Interest Rates

[chrisgoh]

The New Zealand dollar rallied sharply after the rate was cut, gaining just over half a US cent to US67.30c on the news. "Basically, the Reserve bank cut its rate but essentially what they have signalled is that that is it for them," ANZ senior foreign exchange strategist Sam Tuck said.

Source: NZ Heralds

[Psilan]

Received random call from BNZ about my mortgage and accounts a few minutes ago (i'm floating everything).

Offered me BNZ Classic mortgage. No rewards, no bonuses.

1 year 4.25%
2 years 4.29%

[Wayne]

Those people who have constantly had digs at "negatively" geared investors in Auckland buying central properties with paltry 5% yields,

Would still be negative geared at 5% yeild even with the current low mortgage rates.
Can you get 5% in central Auckland?

[Bluekiwi]

Would still be negative geared at 5% yeild even with the current low mortgage rates.
Can you get 5% in central Auckland?

You could about 5 years ago when negative gearing was a naughty word.
And the doom sayers were saying how terrible 5% in Central Auckland was.

[Bluekiwi]

The New Zealand dollar rallied sharply after the rate was cut, gaining just over half a US cent to US67.30c on the news. "Basically, the Reserve bank cut its rate but essentially what they have signalled is that that is it for them," ANZ senior foreign exchange strategist Sam Tuck said.

Source: NZ Heralds

That's what they say but there is a comment from RBNZ that will lower it "IF Neccesary" so the commentators are full of BS

[Damap]

You can get 5% all day long in Auckland still for sure.

[Wayne]

You can get 5% all day long in Auckland still for sure.

The question was AK central?

[Damap]

Why would you want to be there specifically? Anywhere in Auckland is working :-).

[Hauraki]

My fixed term (~450k) is coming up in 2 weeks time, plus 50k revolving credit

I'd try asking 1 year 4.2% which should be achievable? Are banks still handing out cashback if I switch bank and bring my accounts over as well? Thanks.

[Frezzinghot]

My fixed term (~450k) is coming up in 2 weeks time, plus 50k revolving credit

I'd try asking 1 year 4.2% which should be achievable? Are banks still handing out cashback if I switch bank and bring my accounts over as well? Thanks.

Yes cash back still on over, we have been quoted 3k but still pushing for more!

[Hound]

Westpac have dropped their advertised two year rate to 4.24%

[primal]

Since the announcement ANZ was the first to cut its floating rate to 5.74% and Westpac has sharpened its two-year special to best-in-market - 4.24%.

Check all the mortgage rates by click the link below.
http://www.mortgagerates.co.nz

[Damap]

Definitely time to buy the best quality property you can in as much volume as you can.......

[Frezzinghot]

Definitely time to buy the best quality property you can in as much volume as you can.......

Lock in and forget it?

We are refinancing all current debt all below 5%, still have not signed new docs yet but can we really squeeze any more from the banks? SBS and TSB that is. Also have a question about cash contributions, is 3k a good amount per bank?


FH

[Damap]

Locking in or spreading the terms is a never ending debate. I am locking mine in. I am finding the cash back offers are declining more recently. Still easy enough to get loans though which is nice :-).