Interest Rates

[muppet]

Hi Guys

Westpac are again first out of the blocks.

Floating 10.05%
6mths 9.05%
1yr 9.05%

Regards

[NZGEMS]

I just sent an email to my bank reading this, as we agreed a couple of weeks ago they were able to hold a rate for 60 days for me, about to take out a big fixed loan to do my trading in rather than use the LOC, will just keep it for a backup, may as well commit to the lower rate, just means i will need to keep trading as i dont want to end up paying it and not having any property against it. That would be silly.

[muppet]

Hi Guys

Rates continue to climb.

ANZ, HSBC, NAB, Westpac have all raised their rates.
HSBC's rates are not quite as high as the others.

Floating: 10.30%
6mths: 9.30%
1yr: 9.30 %
2yrs: 9.25%
3yrs: 9.15%
4yrs: 9.05%
5yrs: 8.95%

Regards

[muppet]

Hi Guys

Some of ASB rates are up:
Fl 10.55%,
6mths 9.4%,
1yr 9.4%,
3yrs 9.1%

ANZ Floating rate is also 10.55%.

Well I suppose al the rest will race to keep up.

Regards

[muppet]

Hi Guys

Nearly all the main five banks have moved rates upwards this week.

Floating rate now 10.55% for all major banks.
Only the BNZ hasn't moved rates for 6mths, 1yr, 2yr and 3yr loans,

6mths 9.3%
1yr 9.4%
2yr 9.25%
3yr 9.1%

Regards

[muppet]

Hi Guys

Looks as if the major banks are starting to move short term rates again.

The ANZ has started by raising 6mth rates to 9.6% and 1yr rates to 9.5%

Regards

[Monkeyboy]

I think you might mean ASB and not ANZ just yet. No doubt they will follow, but i haven't got the word from the other banks yet.

[MortgageGuy]

ANZ, Kiwibank and ASB have all recently increased their short term rates. interestingly, many non bank lenders have dropped their 2 year rates... very interesting times indeed.

[Monkeyboy]

Just got the word through from ANZ now too. You must have some good inside info muppet

[muppet]

Hi Monkey boy

Nah mate, just had a look at http://www.interest.co.nz/mortgages.asp

They update very rapidly.
Westpac don't usually announce anything until after close of day.

Regards

[whitt]

ANZ 2 year is rumoured to drop from 9.15 to 8.95 on monday.

[muppet]

Hi Guys

ASB has dropped 2yr rates to 9.15%

BankDirect 2yr rates down to 8.99%

Regards

[muppet]

Hi Guys

It has taken a long time but Westpac has finally joined the rush to drop its 2yr rates to 9.15% in line with every one else.

Regards

[whitt]

ANZ 2 year is rumoured to drop from 9.15 to 8.95 on Monday.

Well I guess my rumour was a couple of weeks to early.
It seems most banks have lowered 2 year rates but not as much as I was suggested.

Interesting point though is the 1 year rates seem to be creeping up now.

This gives you an idea of were the banks predict rates to be shortly. They would be suggesting to fix for 2 years which implies they may think they are lower in 1.

Pretty much like TAB gambling really, you are better off using Hybrid's interest rate averaging principle.

[muppet]

Hi Guys

PostBank have dropped their 3yr rates down to 8.6% as from 17 Sept.

Regards