That's what I did. I got good and lowest rate of 4.25% for 1 year term and so I fixed it from kiwibank. Currently their rate is 4.49% for 1 year. Set and forget. I can review it again after a year.
It's been more than two months and still "few" bank are offering 4.35%, so I have nothing to loose now. Only two minor banks are offering 3.99%, but they have hidden fees which no one sees. Why not ANZ, BNZ, ASB, Kiwibank or others offering that rate. Because they can't afford to.
Let's see what happens during next OCR announcement. Another 0.25%. What's the guarantee bank will instantly drop their rate.
But I think after announcement bank still won't go below 4.2% unless I am wrong.
Well future will tell.
It's been more than two months and still "few" bank are offering 4.35%, so I have nothing to loose now. Only two minor banks are offering 3.99%, but they have hidden fees which no one sees. Why not ANZ, BNZ, ASB, Kiwibank or others offering that rate. Because they can't afford to.
Let's see what happens during next OCR announcement. Another 0.25%. What's the guarantee bank will instantly drop their rate.
But I think after announcement bank still won't go below 4.2% unless I am wrong.
Well future will tell.
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