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  • Only 140k
    Also got 1k cash back incentive.
    4.59

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    • Originally posted by Gladdynook View Post
      HSBC doing advertised rates of 4.49% for 1,2 and 3 year terms
      HSBC already requires 70% LVR

      Comment


      • Originally posted by ivanp View Post
        HSBC already requires 70% LVR
        So does ANZ, BNZ, and Westpac at this stage.

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        • They are not the only banks in NZ

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          • Part of the reason we fixed was for the certainty of knowing our outgoings which is a form of insurance. There's a cost for every insurance policy so it's no different for fixed rate mortgage contract too. At the time we expected rates to go up so even though they haven't it's just a cost of doing business

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            • Our fixed rate at 6.8 is high but at the time seemed really competitive. At least its tax deductible anyways

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              • Don't worry HouseWorks, most of us have been in similar situation with fixing rates.
                www.PropertyMinder.co.nz
                # Property Management
                # Ad Hoc Tenancy Services / Rental Inspections / Terminations and Notices

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                • Indeed. I have fixed at 9% for five years before the gfc. Was very painful. Payback time now!

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                  • not worthwhile breaking Judge? I looked at break fee at one point but was around 25k. ASB never offered to capitalism it and I never asked the question. Next month I'm off fixed whoa.

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                    • I did not break at the right time so was not worth breaking at the bottom of the cycle. Coming of my last 5 year rate at 7.5% in 10 days. Hallelujah!
                      Last edited by Judge; 02-08-2015, 09:39 PM.

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                      • Who is getting sharp rates?

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                        • Originally posted by Mile high View Post
                          Who is getting sharp rates?

                          I have got 544k and 117k coming up this month.
                          I was going to go long term to cover any investor class rate rises risk since they are trying to hammer investors.
                          Try and get around that 5.2 to 5.4% maybe.

                          But that new 2 year special of 4.6% I think, looks good.

                          Is anyone getting cheaper rates than those low as you can go 2 year rates.

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                          • Going to get cheaper yet.
                            Money supply in the world is governed by oil prices. Look what's happening to them and then follow the commodities. All going down.
                            Reduces the need for funds hence a huge supply of money looking for a home.

                            Swap rates continually falling.

                            Fairly simple logic.

                            Lesds than 4% after xmas.

                            n.b.Fonterra Are loaning interest free to farmers in need.
                            Cost about 1% to them.

                            Banks will get it back of course and that exacerbates their problem
                            Big companies will either raise their own low cost capital or the Banks will have to meet the market. They will also be having to write off some big stuff in Aussie.

                            Five year 4% or less coming our way. Be patient. Maybe even longer terms. something other countries have had for years but not NZ. We have a stupid RBNZ. that keeps rates higher than than they need to be.
                            Events are going to overtake them. Events they can't control and events that the RBNZ is not legally allowed to control.

                            Here is a new blog which if you read Rodney Dickens as well gives us some insights into the broken monster that is the RBNZ.
                            A monster by statute that is beginning to operate outside of its Legal Mandate. e.g. LVR

                            http://croakingcassandra.com/

                            Comment


                            • Originally posted by Viking View Post
                              Going to get cheaper yet.
                              Money supply in the world is governed by oil prices. Look what's happening to them and then follow the commodities. All going down.
                              Reduces the need for funds hence a huge supply of money looking for a home.
                              Makes sense, but how do you know?


                              Originally posted by Viking View Post
                              Going to get cheaper yet.

                              n.b.Fonterra Are loaning interest free to farmers in need.
                              What is the source of this extraordinary fact?


                              Many thanks for the informative post

                              Comment


                              • Originally posted by Eugene View Post
                                What is the source of this extraordinary fact?
                                Fonterra will provide an interest free loan of 50c per kgMS for production between June & December.

                                Good for assisting immediate cashflow to pay the coming bills ( bank interest), but will also need to be paid back of course.
                                I think it becomes due when price reaches $6 again.
                                Last edited by speights boy; 08-08-2015, 11:06 AM.

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