Interest Rates

[spurner]

I fixed just last week and BNZ's 7 year rate then was 6.79%, and it is now actually 8.09% so their rate has actually increased by a whopping 1.3%, not the 0.79% they claim.

seven year rates are up 0.79 percent, to 7.99 percent.

[Munga]

Mmmmmmmmmm where have dandan's last couple of posts gone

[shanecarruthers]

I fixed just last week and BNZ's 7 year rate then was 6.79%, and it is now actually 8.09% so their rate has actually increased by a whopping 1.3%, not the 0.79% they claim.

Thats is a huge shift in 7 year rate !! sign of were the banks think rates will be heading in the next few years

[dandan]

Mmmmmmmmmm where have dandan's last couple of posts gone

I had a post pulled off on another thread and noticed some others having their posts pulled off so I wanted to try some pulling off myself, it felt good.

[Jabroni01]

I had a post pulled off on another thread and noticed some others having their posts pulled off so I wanted to try some pulling off myself, it felt good.

Pulling off myself = felt good.

You could say that I guess

[dandan]

Oh, my mistake, they wern't pulled off, just got a bit suspect and paranoid over nothing it seems

[Austrokiwi]

Thats is a huge shift in 7 year rate !! sign of were the banks think rates will be heading in the next few years

As an off shore observer the current rise in fixed term rates is way over due.... Last year I recall posting my opinion that NZ interest rates would rise for the currently experienced reasons.

NZ seems to be fitting in with the more normal situation of Fixed rates being higher than floating rates.

[Perry]

Mmmmmmmmmm where have dandan's last couple of posts gone

PT posters of some persistence can delete or
edit their own posts. Newbies, (less than 10
or 20 posts - can't recall exactly), don't have
that privilege. I dimly recall that there may be
a time limit in which that discretion can be
exercised, too.

The PT Mod folks are reluctant to delete posts,
but if forumites break the forum rules, such posts
will disappear from sight. Most forumites get an
admonitory PM; the intractables usually don't.

Sometimes, such moderation will be the subject
of a post in the thread, so posters understand
why some bits have disappeared. Depends on
the severity and the dislocation impact.

We do have another life, somewhere . . . .

PS
You'll find the list of Mods here.

[princess]

a few pages back someone asked about deposit rates... a colleague of mine is getting in the 7's now for his $3mill spread around a number of banks.

Incidentally i have been asked by one of the big 4 to come and work for them to get term investments in - work involves calculating optimal rates and incentives as banks see offshore money becoming too expensive.... suggests rates on the way up ... fun times ahead!

[Perry]

You don't mention the term.

The local CU seems to be dragging the chain.
For TDs, their web site offers just:
5.25% p.a. for over $1,000 for 2 years.

[muppet]

Westpac again leading the pack with another increase.
2yrs 6.35%
3yrs 6.85%
4yrs 7.40%
5yrs 7.60%
and 18mths 6.10%

See at http://www.interest.co.nz/mortgages.asp

[tpr2]

T#####rs.

They are always very fast to price in increases and slow to bring the rates down. grrrrrr

[Commercial Dan]

Westpac again leading the pack with another increase.
2yrs 6.35%
3yrs 6.85%
4yrs 7.40%
5yrs 7.60%
and 18mths 6.10%

See at http://www.interest.co.nz/mortgages.asp

Even 7.60% for 5 years is pretty good considering inflation will rear its ugly head in the medium term.

[dandan]

Geee it certainly does seem like rates are up and away.

[Perry]

Still doesn't seem to be any sign of Term Deposits
and the like, following the trend - not where I look.