Interest Rates

[elguapo]

I wonder too.
Maybe they should be asking you?
These are people whose business it is to know.

As it is mine.....the order book is full, and then some.

[speights boy]

The next leaders debate should include questions as to how each party's policies would help mitigate the effects if this trend continues.

ANZ predicts $5.1b annual drop in dairy revenue

ANZ's economists have cut their 2014-15 Fonterra milk price forecast by 50 cents to $5.25 per kilogramme of milk solids after the latest drop in prices at Fonterra's Tuesday night dairy auction.
ASB's economists say their $5.80 forecast is under review, and Westpac, which also has a $5.80 forecast, says there are downside risks.

[Meehole]

The next leaders debate should include questions as to how each party's policies would help mitigate the effects if this trend continues.

ANZ predicts $5.1b annual drop in dairy revenue

The trend will continue and it will be exacerbated if there is a Labour led Govt as the kiwi will drop considerably against the USD. Just thinking............

[speights boy]

Isn't a lower NZD good for our exporters ?

[BigDreamer]

The trend will continue and it will be exacerbated if there is a Labour led Govt as the kiwi will drop considerably against the USD. Just thinking............

I thought it was the high NZD (vs USD) that was impacting our exporters (?)

[ATM]

Dear all
I am a long time reader although I joined only today to post my first mail. My bank has offered the following interest rates to fix one of my loan which will need refixing soon. I am just writing to see whether the rates are good:
6 mths 5.3%
12 mths 5.59
18 mths 5.7
24 mth 5.85
36 mths 6.05

My amount to refix is about 190k and I have others with the same bank too. Just wonder whether the rates offered are good. Usually my broker does it for me but now he is away. Thanks

[mrsaneperson]

Are there penalties for paying off early on your fixed loans?Have you tried kiwibanks revolving float mortgage? Im getting 6% floating [norm is 6.65%] ;this is with a .65% discount because im a good customer

[ATM]

Thanks mrsp. I am not sure I can change bank right now as I have various loans fixed for various terms all for the same house. The current bank has also given me -.75 discount for floating part of my motgage which I am paying 6.05. Right now I am just going to fix the part of thr mortgage that will expire soon. And just want to fix for short term.

[BigBadWolf]

Surprisingly, Interest rates on business/farming mortgages have been dropping recently. We were floating at about 6.4% for much of our mortgage, the bank offered to fix it at 6.7% for a year, we declined that after hearing of other banks doing better deals. We ended up getting our bank (ASB) down to a 90 day rate of 6% which we are really happy with.
Some banks are even willing to talk in the 5.9% range for farms which is the best it has been in a while.

I don't think rates will be increasing in the next 12 months due to the hardship the dairy industry will be facing.

[Lovethiscountry]

Hi ATM
Just renewed 667k with BNZ for 3yrs at 6.23% so the figures you show seem about the going rate.

Just joined too but can't see how to post new threads. Can you advise?

[ATM]

Thanks BigBadWolf for your comments. I have asked my bank whether they could give me more discount and am still waiting. Not sure how people negotiate.

[ATM]

Hi lovethiscountry thanks for sharing. I dont know how you can start a new thread either yet.

[Perry]

Just joined too but can't see how to post new threads. Can you advise?

I don't know how you can start a new thread either yet.

It is not possible to start a new thread from within an existing one.
Go "up a level" to (e.g.) Finance, legal and Tax (NZ) and the option
to start a new thread in that particular sub forum area will show in
the upper left part, just above "Forum: Finance, legal and tax (NZ)"



The other areas of the forum work in much the same way.

[Lovethiscountry]

Thanks Perry

[ATM]

NEGOTATING RATES AT RENEWAL STAGES

Hi all
Just writing to see whether anyone has advice for me. I have had a loan with the same bank for several years. My loan amount right now is 790k split in various suffixes due on various dates. So when one suffix needs refixing I normally accept the rates the bank offers and renew my loan. Is that worth shopping around at renewal stages e.g asking other banks what they can offer if I were to move my loan to their bank. Or is it too much I.e it will be hard to move mortgage to another as my loan is split into various terms. If I employ a mortgage broker at my own cost does the mortgage broker renegotate every time part of my loan is due for renewal. Thanks for any advice you may share.