The change will take effect this week
Following the Reserve Bank’s 0.5% cash rate increase, ASB has announced that it is adjusting its home loan rates.
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ASB will increase its housing variable rate from 6.35% to 6.85% while the ORBIT home loan rate will move from 6.45% to 6.95%.
“We’re also cognisant that some customers may have questions about their borrowing off the back of this latest OCR adjustment and we’d really encourage them to reach out to our team for tailored guidance and advice on the best options available to them,” said Adam Boyd, ASB's executive general manager personal banking.
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New variable rates will take effect for all new housing loans from Aug. 25 and Sept. 1 for existing loans.
