Sub 4% rates unlikely to return
ASB has shifted its one year special rate to 4.05% after it slashed rates at the end of November, joining the likes of Westpac, ANZ and BNZ below 4% last month.
The big four have all moved their one year rates up following the short-lived price war.
November’s cut price frenzy led to an uptick in business for some advisers as customers refinanced and slashed rates, but advisers think another sub 4% price war is unlikely.
Kris Pedersen, the boss of Kris Pedersen mortgages, said: “I think it was a bit of a special situation, potentially coming on the back of the bank conduct discussions.
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