Interest Rates

[jack2016]

if you have loans fixed at higher rates for another year, i presume this "low rates" doesn't apply until such time your loans come off fixed?

[Don't believe the Hype]

if you have loans fixed at higher rates for another year, i presume this "low rates" doesn't apply until such time your loans come off fixed?

you can break the fixed loan for a fee - ask your bank for the cost then you can benefit from the new low rates - this may or may not be beneficial you'll have to do the math

[Frezzinghot]

Yes, these rates are only good if you are not tied into a higher long term rate!

[JBM]

What are you paying for your commercial loan?

At present my three loans are all at 3.79% but come off fixed terms 16 JULY ..might just fix the lot for another year 2.7% etc

I just heard on CNBC that NZ will go to Negative rates mid next year ... if thats the case might get 5yr Fixed in the mid 2's ???

[Wayne]

At present my three loans are all at 3.79% but come off fixed terms 16 JULY ..might just fix the lot for another year 2.7% etc

I just heard on CNBC that NZ will go to Negative rates mid next year ... if thats the case might get 5yr Fixed in the mid 2's ???

CNBC know that we WILL go negative mid next year - I wonder who they know who can say that for SURE?
Banks have been given until the end of this year to sort their systems to handle negative OCR - so far that is the only definite.

[Jeffa]

CNBC know that we WILL go negative mid next year - I wonder who they know who can say that for SURE?
Banks have been given until the end of this year to sort their systems to handle negative OCR - so far that is the only definite.

I thought you have been reading my predictions,Im always right...always.
They wont go negative mid next year,they will go negative by Xmas this year.

[Jeffa]

The RBNZ will signal negative interest rates around September, to coincide with the bankrupcy and closing of many big & small companies as wage subsidies run out and financial reports are released,they will be bad real bad.
It will lead to a second share market crash worldwide.

Im excited as I will become even more wealither with lower and future negative retail interest rates.

Check mate in 3 moves.

[Frezzinghot]

I have 347k coming off at xmas, and its a 4.99 deal. Free money basically, and even more coming off at the start of next year.

Just waiting on another deal to be approved from the bank so most of my loans are going to be historically low, only downside is all the extra cashflow is going to the PPOR! Oh well, should be able to pay off the home 10 years early now.

[Nick G]

Mate is calling for 2.49 by July. I have 760k rolling off 5.09 in July. A more than 50% pay raise.

Also... these levels of rates will help a lot of people get through.

[Frezzinghot]

Mate is calling for 2.49 by July. I have 760k rolling off 5.09 in July. A more than 50% pay raise.

Also... these levels of rates will help a lot of people get through.

Is that lending on IO?

[crashy]

We will see banks offering 2.49% fixed for 2 years within a few months. 1.99% by Xmas. They will want to suck people into longer term at the current higher rates as blind Freddie can see rates will continue to go down

[crashy]

ASB 2.69

https://www.nzherald.co.nz/personal-finance/news/article.cfm?c_id=12&objectid=12333945

[JBM]

Anyone re-financed recently much cash being offered ...ASB offered me $4550 this time last year ....for just over 600k in lending

[Nick G]

Yes it sure is.

Is that lending on IO?

[Murph]

Anyone re-financed recently much cash being offered ...ASB offered me $4550 this time last year ....for just over 600k in lending

This might be a dumb question but to banks offer cash to re-finance? When you loans are rolling over and you have to option to go to a new bank will the exisiting bank offer cash? I was told by my broker this is not the case?