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  • What do experts here think about these rates please?

    6 month fixed 4.95%p.a
    1 year fixed 5.05%p.a
    2 year fixed 5.70%p.a
    3 year fixed 6.15%p.a
    4 year fixed 6.45%p.a
    5 year fixed 6.70%p.a
    I know people will have different opinions, but I am interested in hearing how people would split a loan of around 750K pls

    Comment


    • Not sure on the break fees Maccachic.
      ithink , i would not go for fixed rates right now. If there are many other countries around the world presently offering much lower mortgage rates & term deposit rates than NZ ,then it stands to reason interest rates will not go up any further, unless this situation changes.
      NZ is a small minow compared to usa , their mortgage rates around 3% for 30 years fixed, their term deposit rates were so ridiculously low around 0.2%!Barely worth putting money in the bank.
      Look at our own council , where do you think they are borrowing money from?
      Answer: Overseas
      Why: Because they can get a lower interest rate than what banks can offer here.

      NZ cant afford to make our country an even more amazing return haven for overseas money investors than it already is by raising the interest rates any more than they are now.
      Last edited by mrsaneperson; 23-10-2013, 06:49 PM.

      Comment


      • Originally posted by mrsaneperson View Post
        Not sure on the break fees Maccachic.
        ithink , i would not go for fixed rates right now. If there are many other countries around the world presently offering much lower mortgage rates & term deposit rates than NZ ,then it stands to reason interest rates will not go up any further, unless this situation changes.
        NZ is a small minow compared to usa , their mortgage rates around 3% for 30 years fixed, their term deposit rates were so ridiculously low around 0.2%!Barely worth putting money in the bank.
        Look at our own council , where do you think they are borrowing money from?
        Answer: Overseas
        Why: Because they can get a lower interest rate than what banks can offer here.

        NZ cant afford to make our country an even more amazing return haven for overseas money investors than it already is by raising the interest rates any more than they are now.
        I dont see any sort of economic logic to what you are saying here.

        To the op, I would get profesional advice from Mortgage broker (versus bank staff who have no idea), and real a few weekly reports from BNZ and Westpac to get a feel for what is actually going on.

        What you do however, depends on your own personal circumstance.

        Comment


        • Overseas rates have always been a lot lower than ours haven't they?

          Ithink have you approached other lenders as well? If you are under 80% LVR you are in a good bargaining position.

          Comment


          • Originally posted by Bluekiwi View Post
            I dont see any sort of economic logic to what you are saying here.

            To the op, I would get profesional advice from Mortgage broker (versus bank staff who have no idea), and real a few weekly reports from BNZ and Westpac to get a feel for what is actually going on.

            What you do however, depends on your own personal circumstance.
            Thats quite dismissive.Elaborate the points i've made by all means.
            So you believe interest rates are going up? OK, based on what observations?

            Comment


            • Originally posted by Bluekiwi View Post
              To the op, I would get profesional advice from Mortgage broker (versus bank staff who have no idea), and real a few weekly reports from BNZ and Westpac to get a feel for what is actually going on.
              If you'd said that a year ago, pretty much all their advice was wrong.
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              Comment


              • Originally posted by drelly View Post
                If you'd said that a year ago, pretty much all their advice was wrong.
                And therein lies the rub!

                These guys are just taking educated guesses. Like everyone else.

                There's no magic crystal ball, you just read what you can and make your choice. If you get it right, try not to be too arrogant about it. If you get it wrong, try not to be too hard on yourself.
                Squadly dinky do!

                Comment


                • Originally posted by Davo36 View Post
                  These guys are just taking educated guesses . . .
                  Without undue emphasis on the word "educated."
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                  Comment


                  • Look guys just heard from a really good source, rates are tipped to down then up, but possibly not in that order.
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                    Comment


                    • Are you saying that there is a 50/50 chance of movement one way?
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                      Comment


                      • toss a coin.
                        And no time frame - bound to be right.

                        Comment


                        • Originally posted by mortgage broker View Post
                          Look guys just heard from a really good source, rates are tipped to down then up, but possibly not in that order.
                          Yeah, nah, I'm sure they're going to go up then down later, but yeah, maybe not in that order
                          Squadly dinky do!

                          Comment


                          • I'll go on record for saying interest rates will remain unchanged for the next 12 months.
                            I think we have every option covered now?

                            Comment


                            • For a limited time ASB is offering a special two year fixed home loan rate of 5.59% p.a.

                              your thoughts?

                              Comment


                              • 1. I wouldn't change banks for that;

                                2. If at ASB, I wouldn't have more than about 30% of my loans on that term.

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