That's why I predict interest rates will be in the 3%-4% mark (if not lower) come next recession.
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Originally posted by Maccachic View PostHave they ever been that low? Id be happy to settle for 4.89% for 5 years will see what BNZ come back with
Basically after USD unplugged from gold, interest rates worldwide have been in free fall ever since.
This is one of two ways to bring affordability back, ie cashflow properties in Auckland, which is 1) interest rates drop to 3%, or 2) massive price reductions (low probability).
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Originally posted by Perry View PostYes, they were that low, back in the sixties and seventies.
A State Advance Corp loan was 3% fixed for the entire
period of the loan. Thems were the days.
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The SAC (now HCNZ) was the BIG lender of that era. Banks did not do
residential loans and second mortgages through solicitors and assorted
Friendly societies were the norm. Inflation was negligible, wage rates
were good and NZ had over-full employment. (more jobs than workers)
Almost no average Joe had heard of the NZ stock market, overseas funds
were required to buy a new car and two murders nationally per year was
absolutely scandalous!!
Just how much of a subsidy 3% was I don't know. People could capitalise
on their 75 cents/week family benefit allowance for first home building. If
I recall close to right, my wages were $14/week, back then and I had
$180 in my Post Office Savings Bank account.
Wow!
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Originally posted by Perry View PostThe SAC (now HCNZ) was the BIG lender of that era. Banks did not do
residential loans and second mortgages through solicitors and assorted
Friendly societies were the norm. Inflation was negligible, wage rates
were good and NZ had over-full employment. (more jobs than workers)
Almost no average Joe had heard of the NZ stock market, overseas funds
were required to buy a new car and two murders nationally per year was
absolutely scandalous!!
Just how much of a subsidy 3% was I don't know. People could capitalise
on their 75 cents/week family benefit allowance for first home building. If
I recall close to right, my wages were $14/week, back then and I had
$180 in my Post Office Savings Bank account.
Wow!
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Thought I'd post some actual interest rates on this thread. Just continue the general discussion around the outside.
ASB: Lending of just over $250k, LVR under 80%.
6 mths fixed rate 5.45%pa
12 mths fixed rate 5.39%pa
18 mths fixed rate 5.39%pa
24 mths fixed rate 5.35%pa
36 mths fixed rate 5.45%pa
48 mths fixed rate 5.65%pa
60 mths fixed rate 5.70%pa
Along with $3,000 cash
Plus they will match my ANZ floating rate of 6%.AAT Accounting Services - Property Specialist - [email protected]
Fixed price fees and quick knowledgeable service for property investors & traders!
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Originally posted by Perry View PostBanks did not do
residential loans and second mortgages through solicitors and assorted
Friendly societies were the norm. Inflation was negligible, wage rates
were good and NZ had over-full employment. (more jobs than workers)
Almost no average Joe had heard of the NZ stock market, overseas funds
were required to buy a new car and two murders nationally per year was
absolutely scandalous!
compared to <300 last year
Last edited by eri; 17-03-2015, 10:05 AM.have you defeated them?
your demons
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Originally posted by Anthonyacat View PostThought I'd post some actual interest rates on this thread. Just continue the general discussion around the outside.
ASB: Lending of just over $250k, LVR under 80%.
6 mths fixed rate 5.45%pa
12 mths fixed rate 5.39%pa
18 mths fixed rate 5.39%pa
24 mths fixed rate 5.35%pa
36 mths fixed rate 5.45%pa
48 mths fixed rate 5.65%pa
60 mths fixed rate 5.70%pa
Along with $3,000 cash
Plus they will match my ANZ floating rate of 6%.
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What do you want Wayne? Comparative justification? From Gary?AAT Accounting Services - Property Specialist - [email protected]
Fixed price fees and quick knowledgeable service for property investors & traders!
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Originally posted by Anthonyacat View PostWhat do you want Wayne? Comparative justification? From Gary?
At least you put them all together - nice and neat for time poor people
Busy days today!
This thread sometimes depresses me when I see people getting great rates - but you can't have the best rate all the time
particularly with a large number of mortgages maturing at differant times.
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Originally posted by Wayne View PostSomething like that.
At least you put them all together - nice and neat for time poor people
Busy days today!
This thread sometimes depresses me when I see people getting great rates - but you can't have the best rate all the time
particularly with a large number of mortgages maturing at differant times.
It's ok to get bad rates, that's the price we pay for spreading our mortgages across multiple banks! (Also we limit our opportunity to refinance and get great cashback every 12 months...)
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