Mortgages

Rates tumble in home loan war

ASB Bank is firing both barrels at other big banks in the fixed mortgage price war, offering 6.95 per cent for two years, but the Bank of New Zealand is firing back with a new 6.9 per cent rate.

Monday, November 15th 2004

ASB is also heavily undercutting all the big banks on the one-year fixed term, offering 6.95 per cent, which banking sources said was likely to be at paper-thin profit margins.

The ASB's one-year fixed rate is well below any other big bank, and a whopping discount to the 7.75 per cent for one-year fixed being charged by ANZ Bank and Westpac.

ASB trimmed its two-year fixed term rate to 6.95 per cent late last week, down from 7.75 per cent a few weeks ago, but BNZ shot back yesterday dropping its two-year rate to 6.9 per cent.

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SBS FirstHome Combo 6.74
Heartland Bank - Online 6.89
Wairarapa Building Society 6.95
Unity 6.99
Co-operative Bank - First Home Special 7.04
ICBC 7.05
China Construction Bank 7.09
BNZ - Classic 7.24
ASB Bank 7.24
ANZ Special 7.24
TSB Special 7.24
Unity First Home Buyer special 6.45
Heartland Bank - Online 6.55
SBS Bank Special 6.69
TSB Special 6.75
Westpac Special 6.75
China Construction Bank 6.75
ICBC 6.75
AIA - Go Home Loans 6.75
ASB Bank 6.75
Unity 6.79
Co-operative Bank - Owner Occ 6.79
SBS Bank Special 6.19
ASB Bank 6.39
Westpac Special 6.39
AIA - Go Home Loans 6.39
China Construction Bank 6.40
ICBC 6.49
Kiwibank Special 6.55
BNZ - Classic 6.55
Co-operative Bank - Owner Occ 6.55
TSB Special 6.59
SBS Bank 6.79
SBS FirstHome Combo 6.19
AIA - Back My Build 6.19
ANZ Blueprint to Build 7.39
Credit Union Auckland 7.70
ICBC 7.85
Heartland Bank - Online 7.99
Pepper Money Essential 8.29
Co-operative Bank - Owner Occ 8.40
Co-operative Bank - Standard 8.40
First Credit Union Standard 8.50
Kiwibank 8.50

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