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ASB hikes floating rate by 0.25 per cent

ASB Bank today announced it was hiking its floating mortgage lending rate by quarter of a percentage point to 8.5 per cent with immediate effect for new borrowers and from October 4 for borrowers with existing loans.

Tuesday, September 14th 2004

ASB said the rise was in response to the Reserve Bank's lift in interest rates last week. The central bank lifted the Official Cash Rate by quarter of a percentage point on Thursday to 6.25 per cent.

On Friday, Westpac was the first bank to respond to the RB's move when it raised its floating rate by 25 basis points to 8.6 per cent.

ASB said its hike would cost a borrower with a 20 year $100,000 table mortgage $15.85 a month.

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Top Mortgage Rates

SBS FirstHome Combo 4.29
Unity First Home Buyer special 4.29
Co-operative Bank - First Home Special 4.85
China Construction Bank 4.85
ICBC 4.85
TSB Special 4.89
Kiwibank Special 4.89
ASB Bank 4.89
Westpac Special 4.89
BNZ - Std 4.89
AIA - Go Home Loans 4.89
Nelson Building Society 4.93
ICBC 4.95
SBS Bank Special 4.95
China Construction Bank 4.95
Wairarapa Building Society 4.95
TSB Special 4.95
ANZ Special 4.95
ASB Bank 4.95
Kainga Ora 4.95
Westpac Special 4.95
AIA - Go Home Loans 4.95
SBS Bank Special 5.39
Westpac Special 5.39
ICBC 5.39
Co-operative Bank - Owner Occ 5.59
BNZ - Std 5.59
BNZ - Classic 5.59
AIA - Go Home Loans 5.59
ASB Bank 5.59
Kainga Ora 5.69
Kiwibank Special 5.79
ANZ 5.79
SBS Construction lending for FHB 3.94
AIA - Back My Build 4.44
CFML 321 Loans 4.99
Co-operative Bank - Owner Occ 5.95
Co-operative Bank - Standard 5.95
Heartland Bank - Online 5.99
Pepper Money Prime 6.29
Kiwibank - Offset 6.35
Kiwibank 6.35
TSB Special 6.39
ASB Bank 6.44

Full Rates Table

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