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    • Back on topic... what interest rates (fix or floating) have you negotiated with the bank recently?

      I am looking at fixing a minor portion of my home loan for one year. What's the best (non-advertised) rate in this market?

      Or is it worth waiting a while, perhaps until the next Reserve Bank OCR announcement?
      Last edited by xsfat; 09-12-2014, 02:30 PM.

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      • 5.55% fixed for 3 years last week
        Facebook Property Chat Group NZ
        https://www.facebook.com/groups/340682962758216/

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        • Originally posted by orion View Post
          5.55% fixed for 3 years last week
          Great job. What bank offered you this rate?
          www.PropertyMinder.co.nz
          # Property Management
          # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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          • We just got 5.99 for 5 years yesterday, BNZ.

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            • I think this shows that interest rates won't be going up in the near/medium future.
              Good for borrowers.
              It could also mean subdued capital gains.

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              • And lousy returns for TDs.
                Want a great looking concrete swimming pool in Hawke's Bay? Designer Pools will do the job for you!

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                • Originally posted by BigDreamer View Post
                  Great job. What bank offered you this rate?
                  BNZ in Palmerston North
                  Facebook Property Chat Group NZ
                  https://www.facebook.com/groups/340682962758216/

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                  • hey guys, I have a 3 year at 6.1% locked in around end of last year... when fixed rate was a bit more expensive and the outlook on interest rate is different. Any of you had experience in negotiating with existing bank for a sweeter fixed rate. . . or is it better off just break it and go with another bank?
                    cheers

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                    • Will people never learn?
                      You liked 3 yrs at 6.1% a year ago.
                      You decided to fix for a reason - what has changed other than you think you can get a better rate now?
                      If you do change are you going to want to change again in a years time if the rates are even lower?

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                      • We had 3 loans coming off in March that we rate locked 2 months ago when we thought things were going to be different. One phone call, they cancelled the rate lock, waived the 1K cancellation fee and gave us .4 off their best rate to keep us. (BNZ)

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                        • Didn't know you could rate lock 6 months in advance.
                          You were lucky.

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                          • Originally posted by Wayne View Post
                            If you do change are you going to want to change again in a years time if the rates are even lower?

                            Pretty obvious isn't it? Yes I would want to.

                            The difference is opportunity cost. Opportunity cost varies as time elapse. Other banks are willing to take customers. Existing bank are keen to keep customers. There is a chance to reduce expenses. Why not ?

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                            • We didn't either till we asked. I think maybe that's where the fee came in if we cancelled.

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                              • You must have a lot borrowed with them Damap?
                                Squadly dinky do!

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