Interest Rates

[Wayne]

I think a lot of this is a rapidly moving target - what happened a couple of months ago is no longer relevant.

[Meehole]

I know in Tauranga BNZ is the easiest for the Agents to work with or that's where they are sending their clients.

Kiwibank offering 4.99% fixed 2 years on residential, commercial 7.7% 10 and 15 year terms.

[donthatetheplayer]

I posted in the thread before.

basically 5.85% fixed for two years since Oct last year.

sent message via online banking that i want to break but no break fee, as anz offered 4k cashback and 5.05% for six month.

bnz complied to my request, so did kiwibank.

this was a month or two ago.

Awesome for you. I'm locked into ANZ with the agreement to stay they make you sign nowadays so I assume this is why there's no leeway on waiving the break fees. Definitely going to spread my lending across different banks when I can.

[PTILoveYou]

Awesome for you. I'm locked into ANZ with the agreement to stay they make you sign nowadays so I assume this is why there's no leeway on waiving the break fees. Definitely going to spread my lending across different banks when I can.

Well next time you refinance consider taking no cashback, but very very very good interest rates? This way you are not afraid to be locked in for 2 years or they claw back their cashback.

[donthatetheplayer]

Well next time you refinance consider taking no cashback, but very very very good interest rates? This way you are not afraid to be locked in for 2 years or they claw back their cashback.

Yeah I suppose I could just let them claw it back. ANZ have been very good to me so don't get me wrong. It's just when the low interest rates are flying around you get itchy feet. I think I'll have to stop following this thread until my terms expire to stop myself from getting too depressed.

[Wayne]

Yeah I suppose I could just let them claw it back. ANZ have been very good to me so don't get me wrong. It's just when the low interest rates are flying around you get itchy feet. I think I'll have to stop following this thread until my terms expire to stop myself from getting too depressed.

You have to be careful you don't sweat the little stuff too much.

[Damap]

I think this current situation is a bit of an aberration. The banks are behaving like gung ho cowboys fuelled by the Auckland market but we surely will get back to some semblance of normal in a year or 5?

[Viking]

New normal will be 4.5% for the next 10 years.

[Wayne]

New normal will be 4.5% for the next 10 years.

Opinion based on?
Not saying I disagree (or agree) but interested in the reasoning behind it.

[donthatetheplayer]

Got the letter from the bank. New variable interest rate is 5.85%.

[elguapo]

Opinion based on?
Not saying I disagree (or agree) but interested in the reasoning behind it.

7 years into the GFC, global interest rates are still at record lows, and debts are at record highs. Western country debts are now so high that they simply cannot afford rates to increase significantly. The whole world (economically speaking), has turned Japanese.

[Wayne]

7 years into the GFC, global interest rates are still at record lows, and debts are at record highs. Western country debts are now so high that they simply cannot afford rates to increase significantly. The whole world (economically speaking), has turned Japanese.

Thanks Viking

[PTILoveYou]

7 years into the GFC, global interest rates are still at record lows, and debts are at record highs. Western country debts are now so high that they simply cannot afford rates to increase significantly. The whole world (economically speaking), has turned Japanese.

Agree

NZ will follow suit as well come the next recession...

[Cpt707]

Agree

NZ will follow suit as well come the next recession...

Affirmative. the illusion created by QE policies and the artificial recovery are finally starting to crack....

[PTILoveYou]

I think the current world economy model is just too big to fail now.

It's like a giant ponzi scheme that is legitimate, and you (as a country) either plays by it, or join North Korea/Cuba/Mid East countries...

It's like the Tour De France culture where everyone was on some kind of performance enhancing drugs and occasionally the ones in the spot light will get penalised (aka Armstrong & Greece)...

I just don't think the world system will suddenly fall over and everyone embrace a new system. There is simply too much invested in the current system that no one wants to see a global catastrophe.