Just when you think they wont go any lower...wrong again - HSBC undercuts - pretty much across the board.
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Just locked in four loans for 5 years. The rate makes no difference to me at the moment. The security of tenure does.
Have more (in dollar terms) than my locked in loans on variable though.
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More cuts to fixed home lending rates
26/02/2013
The mortgage rate battle continues, with HSBC saying its new three-year rate for Premier customers is the lowest offered for that time period by any New Zealand bank in a decade.
The HSBC Premier three-year rate is now 4.99 per cent per annum, down 75 basis points, but conditions do apply.
Customers can also sign up for fixed rates at 4.99 per cent per annum for one or two years, at 5.5 per cent for four years, and 5.75 per cent for five years.
The offers are open for a limited time to new HSBC Premier customers and existing Premier customers who borrow an additional $100,000.
To become a Premier customer, individuals need either a minimum combined home loan of $500,000 or $100,000 in savings and investments.
The loan offers follow recent mortgage rate cuts by other banks.
Westpac this month introduced a one-year fixed rate of 4.89 per cent, three years at 5.39 per cent and five years at 5.75 per cent.
The rates are conditional on at least 20 per cent equity and minimum new borrowing of $100,000.
This week BNZ launched two new home-loan rates for 18-month fixed terms. Its Classic rate is now 5.19 per cent, while its GlobalPlus product now offers an 18-month rate of 5.5 per cent. The rates are available until March 8.
Kiwibank took the knife to its six-month rate this month, slashing almost half a per cent to 4.79 per cent.Patience is a virtue.
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Bank of England deputy governor Paul Tucker says the "extraordinary" move of introducing negative interest rates should be considered.
Bank of England deputy governor Paul Tucker has said negative interest rates should be considered.In 2009, the Swedish central bank, the Riksbank, surprised many when it set a rate of -0.25%. The move below zero for the first time was seen as largely symbolic.
That was on the deposit rate, the rate put on money left by commercial banks at the central bank, which it normally earns interest on.
Banks were, in effect, being charged for keeping money at the central bank rather than lending it out to consumers and businesses to boost consumer spending and growth.
The mission of any business enterprise should include the aim to develop economic conditions rather than simply react to them.
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Originally posted by SwissKiwi View PostJust when you think they wont go any lower...wrong again - HSBC undercuts - pretty much across the board.
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Yes easy if you are sitting floating waiting for the deals.
Only get one chance to play the fix card however.
Is anyone with HSBC premier - does premier actually mean anything?
ANZ tried to charge me $4 to print a piece of paper yesterday - that wasnt very premier.
Swiss.
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What other people think to take the HSBC 4.99% , 3 yrs fixed?
Is it the time to fix it now?
HSBC Premier: what I like so far, no fee at any non-hsbc Atm in nz, no t/t fee if we have another hsbc acc in another country, 10 kgs xtra bagage allowance when travelling on singapore airline. Just to mention few..
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Govt wants to lower interest rate premium
The Government is aiming to reduce the interest rate premium New Zealanders pay on loans, in the final stage in its reforms of the capital markets.
While borrowing rates are the lowest in decades, the gap between the Reserve Bank's Official Cash Rate (currently a historic low of 2.5 per cent), and the actual borrowing rates available to New Zealand households and businesses (the average floating mortgage rate is 5.87 per cent), is higher than in a number of major economies.
So obvious that we're being shafted - even the government is starting to catch on.The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.
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Yes, good for businesses.
We are working to build investor confidence and reduce the cost of capital to business.As a country, we need to be more welcoming of international investment as an enabler of jobs and growth.The Ministers say achieving the goal of reducing the interest rate premium paid on New Zealand debt will support our businesses by levelling the playing-field with offshore competitors.and investigating differences in tax treatment on different forms of saving.The actions in this report will improve the functioning of New Zealand’s financial system and provide more stable macroeconomic conditions. This will help New Zealand businesses by reducing their cost of capital compared to offshore competitors.
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Originally posted by PC View PostSo obvious that we're being shafted - even the
government is starting to catch on.
government attention there. Not when it gets
to take the tax on the profit plus a huge div-
idend, aka a stealth tax, it has no interest in
making any changes.
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Originally posted by PC View PostSo obvious that we're being shafted - even the government is starting to catch on.
They look forward to supplying even more of their product in order to assist you in your endeavours.
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Originally posted by PC View Post- even the government is starting to catch on.
Finance minister Bill English says the Government is "considering formalising" proposals to restrict bank lending and other "tools" to control credit growth - which the Reserve Bank will be taking to the public for consultation next month.But he said the Government was considering formalising the use of these tools "to avoid a strong upswing in asset values and any unsustainable growth in borrowing well in excess of economic growth".
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