Interest Rates

[Hound]

Two years, not bad at all. Not enough to change banks, but enough to get the other banks to potentially offer comparable specials.

[muppet]

The BNZ has dropped some of its 3 and 5 yr rates today.
http://www.interest.co.nz/borrowing

[Hound]

The big banks now all offering 4.95 for one year..

Of course you can always negotiate lower.

[mortgage broker]

Not saying that 4.89% is impossible

[speights boy]

Terms of trade at 40-year high

ANZ senior economist Mark Smith said the strength of the data suggested the official cash rate, which sits at 2.5 per cent, was "increasingly at odds with the current economic backdrop".

The 7.5 per cent rise in the goods terms of trade was considerably stronger than the median market expectation. "This is a major support factor to the economy," Smith said in a commentary.

[speights boy]

Good move from Kiwibank

Kiwibank targets LVR changes with cheap loan

Kiwibank has slashed its floating interest rate for construction loans in the wake of the Reserve Bank's decision to exclude construction lending from low deposit restrictions.
The state-owned bank this afternoon announced a rate of 4.99 per cent per annum for owner-occupied construction loans - a 0.66 percentage point discount on its normal variable rate.

[Bluekiwi]

Yeah nice work, actually something usefull.

Maybe the government should support banks lending them money at really good rates.
Specifically for the building of new housing.

[speights boy]

^ Or exempt new builds from GST for owner occupiers for the next three years.
Leave the banks alone to do their own thing, but lowers the amount the owner occupier needs to borrow.

[muppet]

The bank's projections suggest short term interest rates
will rise more than 200 basis points by early 2016.
Financial market pricing suggests the first move
will come in March 2014, with more than
100 basis points of rate rises during the calendar year.

http://www.stuff.co.nz/business/indu...rate-at-2-5-pc

[cnic]

just trying to negotiate a refix of a portion of my mortgage at the moment, but mortgage broker is saying bank will only offer us the advertised lvr 80% & under rates. Anyone been offered rates lower than these recently or got any tips on getting a better rate?

[Bluekiwi]

just trying to negotiate a refix of a portion of my mortgage at the moment, but mortgage broker is saying bank will only offer us the advertised lvr 80% & under rates. Anyone been offered rates lower than these recently or got any tips on getting a better rate?

Use your friendly mortgage broker to broker a deal.

Wave a quote from another bank under their nose.

If you are under 80% the power should be with you.

I do note, however, that banks do get quite reluctant on deals, just before rates go up

[Maccachic]

Was at my networking group and my banker goes along, one of the guys asked him about 800k under 80% was told he could pretty much name his price and said he could do 4.7% for 1 year.

[muppet]

Both ANZ and Westpac have moved most rates upwards.
http://www.interest.co.nz/borrowing

[Wayne]

Was at my networking group and my banker goes along, one of the guys asked him about 800k under 80% was told he could pretty much name his price and said he could do 4.7% for 1 year.

and 1 year will bring you right into the middle of the rates raising.
Now is the time to go longer with at least some of the mortgage (as said many times before - split mortgages into lumps of differing maturities).

Just got 3 yrs at 5.75% which doesn't look too bad.

[Frostwind]

and 1 year will bring you right into the middle of the rates raising.
Now is the time to go longer with at least some of the mortgage (as said many times before - split mortgages into lumps of differing maturities).

Just got 3 yrs at 5.75% which doesn't look too bad.

5.75%? Which bank?