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  • Originally posted by ivanp View Post
    5.85? maybe 4.85?
    Ah yes typo. 4.85%
    www.PropertyMinder.co.nz
    # Property Management
    # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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    • Hi Guys
      Just received the following offer

      ANZ
      loan $578,888
      1 year 4.70%
      $4k cash back

      Any good?

      Cheers
      From one of Ron's students on our facebook page.

      Interest rates dropping like mad for sure!

      Comment


      • Wow 1 year 4.7%. Rates have dropped so fast in the past 3 months. I fixed 2 years at 5.09% in April and that was a *great* deal at the time.
        www.PropertyMinder.co.nz
        # Property Management
        # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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        • Originally posted by BigDreamer View Post
          I fixed 2 years at 5.09% in April and that was a *great* deal at the time.
          Break that now or the breakcost will just sky rocket as rates keep dropping lol!

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          • Originally posted by BigDreamer View Post
            Wow 1 year 4.7%. Rates have dropped so fast in the past 3 months. I fixed 2 years at 5.09% in April and that was a *great* deal at the time.
            Im still hoping my 4.99%/5years works out good Next one up in December fingers crossed rates are still low

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            • Originally posted by Maccachic View Post
              Im still hoping my 4.99%/5years works out good
              Reminds me of the 6.5% @ 5 years being offered in 2010 lol...

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              • I was stupid enough to fix a ~$500k loan (combination of loans) with ANZ for 6.5% last August. I had to break it and it costed me just over $12k. I shed a tear as I paid it but I know it was for the good.
                www.PropertyMinder.co.nz
                # Property Management
                # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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                • Originally posted by bigdreamer View Post
                  i had to break it and it costed me just over $12k. I shed a tear as i paid it but i know it was for the good.
                  ouch !!!

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                  • The total break fee when I restructured and moved out of ANZ was a total for ~$17k. Majority of it was made up of the $12k break fees related to the 6.5% fixed loans with $2k which I had to return as I stayed less than 2 years and the remaining was for other smaller loans.
                    www.PropertyMinder.co.nz
                    # Property Management
                    # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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                    • Originally posted by Gary Lin View Post
                      Break that now or the breakcost will just sky rocket as rates keep dropping lol!
                      And don't fix again otherwise you will continually review and break.
                      (Or fix max 6 months which is the new 'floating' im my opinion.)

                      Decide what you want - security or the daily rate?

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                      • Originally posted by Wayne View Post
                        And don't fix again otherwise you will continually review and break.
                        (Or fix max 6 months which is the new 'floating' im my opinion.)

                        Decide what you want - security or the daily rate?
                        Yup 6 months is the new floating.

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                        • Rate spiral down like water, more fuel for red hot property.

                          Money becomes cheaper each day, better invest somewhere to hedge against inflation.

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                          • The Reserve Bank of New Zealand may take interest rates to a new record low as dairy prices, the currency and the labour market weigh on economic growth.

                            Westpac Bank's chief economist Dominick Stephens is now forecasting the cash rate to be 2 per cent by December, with four 25 basis point cuts from next week.

                            http://www.nzherald.co.nz/business/n...ectid=11482149
                            have you defeated them?
                            your demons

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                            • Originally posted by BigDreamer View Post
                              I was stupid enough to fix a ~$500k loan (combination of loans) with ANZ for 6.5% last August.
                              I did similair for a group of mortgages around the same time as you.

                              In hindsight, it wasn't the best thing to have done, but I wouldn't call it stupid!

                              Looking back on history is easy, correctly picking the future 12 months ahead is extremely hard.

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                              • Pick the right rate at the time and don't look back. Rates have to drop quite a long way to make breaking and re-fixing worthwhile.
                                DFTBA

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