At 5.25%, ASB’s annual fixed-term home loan rate now matches ANZ National and Westpac's at a 17-year low.

All fixed home loan rates cut by up to 0.51% after OCR remains unchanged.

Rate cut is about providing certainty in uncertain times, says the bank's head of wealth and management.

There will be an interest – and mortgage – rate hike in the near future, say economists. They just cannot agree when.

ASB's move follows rate increases from Kiwibank and Westpac.

Westpac is the second major bank to hike home loan rates after last week’s official cash rate review.