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  • Took a jump finally, fixed 5.89% 3 years BNZ.

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    • That pretty good arm bending there.
      I am wondering whether you could get that good in 6 months or a years time.

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      • "It always amused me that Australia seemed to have this fixation [on mortgage interest rates].

        "You have a significantly greater number of people who have deposits ... and you don't see the same sort of focus on their interests."

        http://www.stuff.co.nz/business/indu...esh-challenges
        have you defeated them?
        your demons

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        • I have fixed some at 3 years and 5.8% with National. Seems cheap enough for the certainty!

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          • Yeah I have been thinking of that myself.
            But I am more worried further out about what certainty there is.

            My plan will be to float for another 1 or 2 or 3 years, until I see some real movement in rates.
            Then maybe fix for 2 to 4 years depending on what the fixed rates are.

            In my mind that gives me certainly for 3 to potentially 7 years.

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            • float some, fix some

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              • Fixed some at 5.5% 3 years and another lot at 5.9% 4 years. Left the rest on floating 5.0% until OCR goes down again...then fix some more.

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                • If you decide to stay on floating keep your eyes on the longer term fixed rates (2,3,4,5 years) as they can go up (or down) without movement of the OCR.
                  Scott Miller - Mortgage Broker
                  Ph: 03 980 4541 M: 021 34 36 48
                  AMS's website My email

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                  • Watching them like a Hawk, plus whatever the rate is that the banks use, cant remember the name.
                    The bank reports each week from BNZ / Westpac can be good, just dont take all they say as gospel, and the weekly emails from Hickeys website and the other one that tracks the banks rate changes.
                    Very good for those floating and watching

                    Just to note that the banks do say that the fixed rates will go up about 2 to 3 months before the OCR does.
                    As the banks pick it and start pricing it in.

                    AHA... SWAP rates, thats what its called.

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                    • Another point to note when you are watching for rate movement.

                      Currently we are getting big discounts off the advertised rates, sometimes close to a percent off. When watching the rates it is very hard to gauge if the discount margin is changing. I always send out a monthly email newsletter with the best rates we have seen for the month, you might find keeping an eye on something like this quite useful as well.
                      Hamish Patel | ph: 09 625 4693 | mob: 021 625 693
                      My Website
                      Be informed - register for our free monthly newsletter

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                      • Originally posted by mortgage broker View Post
                        Another point to note when you are watching for rate movement.

                        Currently we are getting big discounts off the advertised rates, sometimes close to a percent off. When watching the rates it is very hard to gauge if the discount margin is changing. I always send out a monthly email newsletter with the best rates we have seen for the month, you might find keeping an eye on something like this quite useful as well.
                        Great stuff Hamish, I just signed up to your monthly email.
                        I need something to keep BNZ honest, they have given me a .3 discount off the published rate, and added .4 on due to me being at 90% with them.
                        But I dont think that is enough off the floating rate, I am phrasing an email to have a dig at getting more as the business is quite substantial with them.

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                        • Thanks Hamish, I have just signed up to your email too.
                          I am getting big discounts too.
                          However I have just bought another property and am having trouble getting as low a rate as I did when I refinanced last month, same banks. Not sure if because lending getting so high or because I appear to have less negotiating power as have to settle soon. I have been granted the loans, it is just a matter of negotiating the rates and I can't understand why the banks are going .15 higher on the one year rate than they did a month ago.

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                          • Also subscribed. Good info to have. Thanks.

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                            • I was thinking of doing another thread but enough people are on here.
                              Wouldnt mind knowing what floating rates people are getting, what sort of a discount off the floating rate, and approx value of loan.
                              If its under 500k or 500k to 1m, or 1m plus - as I guess those are factors.

                              As toasty infer's he's got a 5.0% floating rate - how on earth did you get that

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                              • Does that big discounts of the advertised rates are for only when your deposit is high like 30%+ ?

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