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  • My 5.25 Floating was Westpac.....it's the 5.4 on the R/C I was impressed with though.

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    • OK I got Westpac to 5.54% on the floating rate and 5.4% on the R/C....

      So might have to ask them to make the whole loan a R/C

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      • Could do, but rates are unlikely to move up for 1-2 years, the 1.1% was due to a build up of inventory and scewed the figures. Figures will be low in Q2.

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        • I am this week fixing a quarter of my borrowing for three years at 5.3 percent, the rest will remain fixed for one year.at 4.99 and 5.00 percent. My rates are low because I massive borrowing. Westpac had huge break fees, if they were lower I might have moved more to three years. ANZ's break fees were negligible. I am willilng to go to the higher three year rate for peace of mind, and because I am very exposed should rates go up. However I don't believe interest rates will go up quickly or soon.

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          • Who is taking ASB's special olympic 5.99% for 5 years fixed rate?
            http://www.interest.co.nz/borrowing/mortgages

            Stuff.co.nz says you must have at least 80% LVR.
            http://www.stuff.co.nz/business/mone...uts-fixed-rate

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            • any mortgage broker here?

              mortgage rates offered by banks competing each other is lifted slightly recently, any views?
              Last edited by NovInvestor; 03-07-2012, 05:13 PM.

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              • Originally posted by NovInvestor View Post
                interest rates offered by banks competing each other is lifted slightly recently, any views?
                The NZ$ is still up around US$0.80 = nothing to worry about yet.
                My Profile

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                • Originally posted by drelly View Post
                  The NZ$ is still up around US$0.80 = nothing to worry about yet.
                  I want views on where the mortgage rates are heading.

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                  • Originally posted by NovInvestor View Post
                    I want views on where the mortgage rates are heading.
                    I just did. They're not going up while the NZ$ is high.
                    My Profile

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                    • The rates are a moving target. The banks cost of funds on fixed term rates appears to have been increasing the last few weeks. I noted sub 5% PA offerings available on 2 years fixed rate terms until recently, with the slimmer margins these opportunities appear to have dried up. The floating rate is steady as she goes.

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                      • Got quoted by ASB
                        - floating/revolving 5.45
                        - fixed 6/12 months 5.09

                        I've got loans with ANZ and ASB. Both are floating. Both have 1k cash offers for new lending so i could feasibly shift loans from one to the other and make 2k out of it. Just an idea.

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                        • Originally posted by theFan View Post
                          Got quoted by ASB
                          - floating/revolving 5.45
                          - fixed 6/12 months 5.09

                          I've got loans with ANZ and ASB. Both are floating. Both have 1k cash offers for new lending so i could feasibly shift loans from one to the other and make 2k out of it. Just an idea.
                          What is the size of the lend and LVR, makes a difference!

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                          • Originally posted by drelly View Post
                            I just did. They're not going up while the NZ$ is high.
                            Sorry my economics is not so good...

                            What's the link between NZD and mortgage rates?

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                            • The Reserve Bank governor is tasked with setting the OCR to control inflation, however lately the RBG has been taking notice of the exchange rate as well. Higher OCR results in higher bank interest rates which in turn result in a higher exchange rate, as investors shift funds to NZ thereby increasing demand for the NZD. The OCR has more effect on interest rates for shorter terms, ie up to two years. For longer terms, banks raise funds outside NZ.
                              I am no economist either but I think this is more or less right.

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                              • RBNZ is talking about breaking the link between OCR and the interest rate, so I think that will be a very interesting move...

                                ANZ in Australia has done it, so it's gonna spread to rest of the banks soon.

                                If this happens, RBNZ will have no tools to slow down a bull market, ie raising OCR to dampen demand for property, similar to 2006-07.

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