Interest Rates

[Damap]

Yes I have 7 figures with 4 banks. You can't create a lot of wealth out of one investment property :-)

[Wayne]

There is a chance to reduce expenses. Why not ?

It is certainly worth a try.
At the very least you will have the facts and know what they want to charge you. Then you can decide if it is worth it.

[Hound]

5.39% for one year, ANZ. From 6th December. You don't get if you don't ask.

[PTILoveYou]

Westpac offered me
6 month 5.5
12 month 5.69
18 month 5.75
2 years 5.85

$400k mortgage refix

They don't want business do they...

[xsfat]

I am also dealing with Westpac. The rate quoted so far is not competitive compared with other banks.

I do have another Westpac loan coming off fixed in another year's time.
It is the only thing keeping me from moving to another bank at this time.

[BigDreamer]

Westpac and ASB are my two least favourite banks for investment loans.

[ivanp]

Just use a good mortgage broker and you'll get same level of rates from Westpac as from other banks...

[shanti]

Hi! Needed to fix several loans over the last couple of weeks and think ASB was pretty competitive:

12 months at 5.49%
36 months at 5.65%
60 months at 5.86%
And 7K in cash back + they refunded the bank charges for 2014

[Damap]

ASB and Westpac both good. ANZ is the worst. Amazing how cheap the rates are getting again!

[PTILoveYou]

Kiwibank has just published their latest "specials", 5.55% for 2 years.

BUT

You should be aiming for 5.35% for 12 months, and 5.45% for 2 years.

[Maccachic]

5.4% with ANZ for 1 year over 80% lending - hate them but can't be faffed changing currently.

[eri]

Many homeowners who loaded up on debt over Christmas will be stuck paying hefty interest bills, as restrictive home loan rules prevent them from rolling the debt into their mortgages.


Rule Financial Services mortgage broker Simon Rule said the summer months typically saw an influx of people wanting to top up their mortgages to consolidate high-interest debt.


However, the Reserve Bank's restrictions on home loans for low equity borrowers had made it much more difficult to do so, he said.

Credit card rates broke through the 20 per cent barrier late last year, even while mortgage rates remain close to historic lows at less than 5.5 per cent.

http://www.stuff.co.nz/business/mone...es-hit-debtors

[Damap]

It is interesting that CC rates don't follow general interest rates. My US credit card is 23% in an environment that has deposits and loans close to zero. Never thought about it before. Weird huh?

[speights boy]

Many homeowners who loaded up on debt over Christmas will be stuck paying hefty interest bills, as restrictive home loan rules prevent them from rolling the debt into their mortgages.

Serves them right....no sympathy.

The amusing thing is, if their CC is with the same bank as their mortgage they are paying that 20% on their home loan anyway.
IE: Their "unsecured" CC debt is actually secured by their home.
Of course, most people don't even bother reading their mortgage contracts.

[Perry]

It is interesting that CC rates don't follow general interest rates. Weird huh?

Making up for loss leaders elsewhere, perhaps? But, like dairy products
that only go up - never down - with o'seas prices, I suspect it's just
one of those semi-legitimate scams. After all, sending the credit card
remains an option, does it not?