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  • Originally posted by speights boy View Post
    True, but those who fixed for 5 years earlier this year probably don't care any more.
    Well they will be praying they made a good decision...

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    • Fixed over 80% on a 5 year rate (6.45%). Will be happy even if the rates plumett. I have security on those loans and can afford them easily. I can't pay down the remaining 18% which is on floating in that time so why worry too much.
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      • Originally posted by Gary Lin View Post
        Well they will be praying they made a good decision...
        Why exactly ?

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        • because if the rates drop heaps again then they will cry and try to break.
          Those that fixed high previously thought they were doing the best thing then and what a lot of hand wringing followed.

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          • you don't have to either fix 5 years or floating.
            how about averaging across terms so you don't have everything expiring at one point?
            whilst it's true interest rates can go in any direction, it's always useful to look at 10-year averages and see where we are tracking.

            I realise not everyone contributing to this thread is trained in economics and finance.
            But it doesn't change the fact interest rates move in cycles, so it's reasonable to say over time rates will move up from where they are at now.

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            • been said before many times

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              • Originally posted by Wayne View Post
                because if the rates drop heaps again then they will cry and try to break.
                Those that fixed high previously thought they were doing the best thing then and what a lot of hand wringing followed.
                5.85% for five years back in June this year. (BTW,that was BK )
                That is quite a different kettle of fish from those who were fixing at 8 - 9% 5 years ago.

                Plus, so what if rates drop.
                As Keys pointed out, if your ability to pay is not affected all it means is that you are spending more than you needed to (in 20/20 hindsight)
                Can't quite understand why anyone would waste a good prayer on that.

                When I spend money on an insurance policy I am very happy when I get nothing back for it at the end of the term.
                Last edited by speights boy; 12-09-2013, 04:45 PM.

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                • no argument here.

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                  • Originally posted by speights boy View Post
                    Why exactly ?
                    Well for some people they will be hoping that they don't loose money.

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                    • Do you believe someone who has refinanced at 5.85% pa for 5 years, for their solid yielding Auckland property is at a great risk of losing money?
                      Last edited by speights boy; 12-09-2013, 08:38 PM. Reason: SP...thanks TLL

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                      • I turned down a really good rate when it was at the lowest ebb. I feel like a total looser.

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                        • Originally posted by Leftette View Post
                          I turned down a really good rate when it was at the lowest ebb. I feel like a total looser.
                          I secured 2 years at 4.99%, 3 years at 5.65 and 5 years at 5.65% for debt of 1.2m with sbs two months ago purely for risk mitigation.
                          Wish everyone the best of luck!

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                          • ...including those with money on deposit!
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                            • Some thoughts from TA.

                              Alexander's interest rate warning
                              Last edited by speights boy; 13-09-2013, 02:08 PM.

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                              • Why any bank employs an econo-mist is beyond my comprehension.
                                Economic soothsayers after-the-fact is about all they're good for,
                                with or without a crystal ball.
                                Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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