Interest Rates

[Perry]

Maybe banks will one day be paying borrowers to take out mortgages?

A better deal than paying the Reserve Bank to hold their money overnight, the profits from which go to their gummints.

[elguapo]

Maybe banks will one day be paying borrowers to take out mortgages?

A better deal than paying the Reserve Bank to hold their money overnight, the profits from which go to their gummints.

A friend in the UK had a tracker mortgage that was set at base -1%, when they cut below 1%, he started getting interest paid to him.

[AlFa]

A friend in the UK had a tracker mortgage that was set at base -1%, when they cut below 1%, he started getting interest paid to him.

Nice!!! Looking forward to seeing it here

[JBM]

Nice!!! Looking forward to seeing it here

That's just insane ... Getting paid to have DEBT ...and the inverse all savers paying the bank to have money in term deposits
the Hunt for Yield would be intense .. here Buy this Car for 0% interest $1 down ?? just pay off the purchase price over your lifetime

[Perry]

Given the total ineptitude of those 'in power,' insanity may be the new normal.

[Perry]

Just waiting for credit card interest rates to follow the pattern and go from 21% to 12%.

[JBM]

Time for refinancing once again coming up ..Mid JULY fixed term ending ... going be interesting what ASB-ANZ-WP is offering looking to just re-fix once again am getting tempted by the offers of 4.39% 5yr by another bank recently esp if it comes with a large cash bonus $$$$$$

[JBM]

ANZ have come back with a 3yr 3.89%(same for 1-2yr) + 3k Cash for 600k debt

[Bluecoat]

Just waiting for credit card interest rates to follow the pattern and go from 21% to 12%.

Only fools [who can easily parted with money] pay interest on credit card

[StreetView]

Do the banks offer any cashbacks if you decide to stay with them with new fixed rates?

[Learning]

Do the banks offer any cashbacks if you decide to stay with them with new fixed rates?

Everything is up for negotiation depending on who's holding what cards.

[JBM]

Do the banks offer any cashbacks if you decide to stay with them with new fixed rates?

Only Westpac that I know of but of course they put timelines on the cash back my last one was 2yrs

[Scott Miller]

Do the banks offer any cashbacks if you decide to stay with them with new fixed rates?

All banks have time limits on their cashback offers, however cashbacks are generally only paid for new lending, so reading into your question it looks like you are looking to re-fix with the same bank as part of an existing loans rollover. If this is the case it is unlikely there will be cashback offered.

[Learning]

cashbacks are generally only paid for new lending... looks like you ate looking to re-fix...it is unlikely there will be cashback offered.

Time to talk to their retention team. The threat of taking your business elsewhere can often have a "loosening of purse strings" effect.

[Scott Miller]

Time to talk to their retention team. The threat of taking your business elsewhere can often have a "loosening of purse strings" effect.

It largely depends on the loan size. The threat of leaving because you are not getting what you want does not have the same weight it once had unfortunately.