ASB Bank's decision to raise its fixed mortgage rates shows the market is flattening, a financial commentator says.
ASB is raising its six-month rate from 5.65 percent to 5.8, and has also raised its 12 and 18-month rates.
David Chaston, from finance website interest.co.nz, said the announcement reflected what was happening in the market.
"It was very strong in sending a signal that the rates are flattening - in other words, longer-term rates are sinking a bit and shorter-term rates are going up," Mr Chaston said.
"So that whole flattening episode is quite an important signal, I think, in the market."