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  • Kiwibank switches home loan promotional focus to its offset mortgage, drops interest rate 25 basis points

    www.interest.co.nz/property/65591/kiwibank-switches-home-loan-promotional-focus-its-offset-mortgage-drops-interest-rate


    Last edited by speights boy; 26-07-2013, 12:09 PM.

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    • Bank phoned me today and offered to break a one year loan at 4.96 percent and refix for 18 months for 4.8 percent.

      I had inquired about break rate a few weeks ago, otherwise out of the blue. Also I normally deal with my mortgage broker.

      Comment


      • Originally posted by Eugene View Post
        Bank phoned me today and offered to break a one year loan at 4.96 percent and refix for 18 months for 4.8 percent.

        I had inquired about break rate a few weeks ago, otherwise out of the blue. Also I normally deal with my mortgage broker.
        Which bank?

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        • Yes, which bank?

          Comment


          • It was Westpac

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            • Originally posted by Bluekiwi View Post
              I cant hold it any longer.

              973k at 5.85% for 5 years
              1.5m at 5.6% for 2 years (90% LVR).
              440k at 5.95% for 5 years.

              Just want some certainty going forward these next 5 years while immigration and housing prices explode.

              Different banks above.
              I think I picked the low in the 5 year rate about right.
              In the end I actually made a last minute change and moved the 1.5m to 6.1 at 5 years.

              Comment


              • Wall St slips on Fed man's taper talk
                Investors might be relying too much on the Fed's stimulus program, Dallas Fed President Richard Fisher said in a speech in Portland, Oregon.

                "A corollary of reining in this massive monetary stimulus in a timely manner is that financial markets may have become too accustomed to what some have depicted as a Fed 'put'," Fisher said.
                "Some have come to expect the Fed to keep the markets levitating indefinitely.
                This distorts the pricing of financial assets, encourages lazy analysis and can set the groundwork for serious misallocation of capital."

                "I am of the opinion that unless we see some disturbing data ... that we should start in September", Fisher told reporters after the speech, adding that he is not alone at the Fed in that view, according to Reuters.
                www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10908824

                Comment


                • Originally posted by Bluekiwi View Post
                  I think I picked the low in the 5 year rate about right.
                  In the end I actually made a last minute change and moved the 1.5m to 6.1 at 5 years.
                  Lowest I've heard for that sort of money was 5.6% for 5 years with ANZ.
                  You can find me at: Energise Web Design

                  Comment


                  • Originally posted by drelly View Post
                    Lowest I've heard for that sort of money was 5.6% for 5 years with ANZ.
                    For LVR 90% ?

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                    • Originally posted by speights boy View Post
                      For LVR 90% ?
                      Don't know sorry.
                      You can find me at: Energise Web Design

                      Comment


                      • No I am pretty sure I didnt get the lowest rates.
                        But I am pretty sure I fixed at the low point in the standard 5 year fixed rate cycle.

                        June had most carded rates around 6.1 and now all the banks are at 6.6.
                        Not even Fontera will bring them back .5%.

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                        • I have a few hundred k to fix and the best I can gt from Westpac is 6.3% for 5 years. I am a bit short on the long fix at the moment so I think I'll take it.
                          At least if the rates drop I'll get a better rate for the next lot that comes off current fixed. The tough part is it is coming off 4.99% so is a huge jump but ...

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                          • NZ unemployment rose from 6.2% (march quater) to 6.4%
                            http://www.stats.govt.nz/browse_for_...RJun13qtr.aspx

                            Australia lowered it's OCR from 2.75% to 2.5%...
                            "Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year."
                            "The Board has previously noted that the inflation outlook could provide some scope to ease policy further, should that be required to support demand."
                            http://www.rba.gov.au/media-releases/2013/mr-13-15.html
                            Last edited by dandan; 07-08-2013, 11:58 AM.

                            Comment


                            • Just had an email from Kiwibank today:

                              We've reviewed the rate of return we offer on our savings accounts. As a result, the rate on your Online Call account is changing. From 16 August 2013 the following rate will apply:

                              Current Rate of Return Rate of Return
                              from 16 August 2013
                              Online Call
                              Minimum balance $2000
                              3.15% p.a. 3.00% p.a.

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