Interest Rates

[eri]

TSB - 4.19% for 2 years with $2000 cashback

how much?

new customer or rolling-over?

[muppet]

Mortgage-holders face rising interest rates for first time in six years

3:10 PM Sunday Dec 11, 2016

Some mortgage holders are breaking their fixed terms early to lock in longer term rates before they rise further, says a broker.

Bank rates for three, four and five year fixed term mortgages have risen in recent weeks reflecting higher borrowing costs for banks in the international money market.
Banks are having to borrow more money on the international market to fund their lending because of a slow-down in retail deposit growth.
Bruce Patten, a mortgage broker with Loan Market in Auckland, said rising rates had resulted in some people taking action now.
"We are getting a lot of people that are now starting to look at breaking early to get onto a lower rate."
Patten said people wanting to get certainty on how much they would be paying for their mortgage for the next few years
should consider fixing for three years while he said investors should look at three-to-five-year terms.

Read more at http://www.nzherald.co.nz/business/n...ectid=11763763

[Perry]

All the hallmarks of another prediction, eh? We'll see.

Permission to panic denied.

[Minz]

Panic will only happen for those who have built in no "wriggle room"....and possibly they should panic and protect themselves....too many are over leveraged and have not been through the multiple cycles.

[JBM]

talking with westpac today offered me 5.19% floating 4.25% fixed 1-2yr + cash ..not sure how much yet total leading 360k

[Beano]

Has anyone received cash for commercial loans below $50m ?
Looking at a $40m loan The interest will be 4.2pc floating but they are asking for a fee of $6k

[BigDreamer]

Has anyone received cash for commercial loans below $50m ?
Looking at a $40m loan The interest will be 4.2pc floating but they are asking for a fee of $6k

We have no experience in commercial interest rates but isn't 4.2% for floating extremely low?
Our understanding is that commercial interest rates are generally higher than residential interest rates.

[BigDreamer]

talking with westpac today offered me 5.19% floating 4.25% fixed 1-2yr + cash ..not sure how much yet total leading 360k

4.25% fixed for 2 years is a good rate at the moment.

Sovereign just offered us 4.35% for 2 years then the day after it went up to 4.39% >_< We only fixed for 1 year at 4.19% as we have plenty of "wriggle-room" at the moment so happy to take the risk.

[propertybuyingNZ]

ASB 4.39% for 2y fixed refinance.
Anyone got better?

[Nick G]

I think BNZ is lower, I got 4.35 for 3. 2 yrs might be 4.25. OK so it was a whopping $50K.... that'll get me a latte every other month.

[propertybuyingNZ]

I can not change bank so I'm stuck with these rates. Just wanted to see if Im getting any discount at all

[BigDreamer]

I can not change bank so I'm stuck with these rates. Just wanted to see if Im getting any discount at all

It's the same rate as what we got for our small top up for a renovation job with Sovereign bank.

[Judge]

I do not want to spread panic, but here is a copy paste from an email from my BNZ bank manager:

Banks have fallen out of love with Residential Investors. Rather than discounting rates ANZ and Westpac are charging a 0.25% premium and no doubt we will follow before long.

[Wayne]

I do not want to spread panic, but here is a copy paste from an email from my BNZ bank manager:
"Banks have fallen out of love with Residential Investors. Rather than discounting rates ANZ and Westpac are charging a 0.25% premium and no doubt we will follow before long."

Not yet for Westpac for me a week ago.

[Judge]

I am sure the rule is not universally applied. Not yet anyway. But the fact that this is on the cards is telling.