Interest Rates

[Judge]

I would strongly reccomend using brokers. I got a completely different attitude from my banks once I started using brokers. BNZ are shameless... Wanted to charge me 15bsp on top of carded rate because I am an investor. I went to bnz who gave me a dis oubt of carded rate and very generous cashback. I will abandon bnz once my rates expire. They came back in the last minute offering to not charge me an investor premium, but still inky at the carded rate. Told them I am not interested.

[Perry]

Ahhhh, yes - it's an Australian thing, I believe.

[Rosco]

I see. Yes it has been around 2 years since I last did this.
That experience was quite time consuming as well. I suddenly had to drill through customer service to get anywhere.
Appreciate the info.

I just got an email back as I write this. She finally offered me the rates, but they are as the public web site...

Why not use a broker?

[Bluekiwi]

Can I ask what floating rates people are getting for revolving credits ?
I have large accounts with ASB and BNZ which dip up and down depending on what I am doing.

I have a gut feeling that I am being charged more than I should.

[Learning]

Can I ask what floating rates people are getting for revolving credits?

4.39% with BNZ total money.

[Anthonyacat]

Can I ask what floating rates people are getting for revolving credits ?
I have large accounts with ASB and BNZ which dip up and down depending on what I am doing.

I have a gut feeling that I am being charged more than I should.

Pretty sure everyone is.

I'm paying 4.45% for my ANZ Flexi and 4.8% for my ASB Orbit. Though in practice I'm not paying much at all because they're mostly full.

What are you on?

[Psilan]

BNZ offer.
300k loan
-0.1% off any fixed rate (e.g. 3.35 classic 2y)
$1000 cash back.

[Bluekiwi]

Interesting mix:

I am 4.95% BNZ total money so .35% below carded and yet not as good as "Learning" at 4.39%
But I am 4.6% ASB so .6% below carded but better than "Anthony Cat" on 4.8%

I just thought about this after going to the Robert Kiyasaki talk yesterday and listening to some finance guy talk.
And I saw a comment somewhere on here, about something getting his "normal 1% below carded rate" - unless I was dreaming.

This is a great thread gentlemen, to learn, and then use such info, to bargain with banks for better rates.
As I head yesterday day "The ausie banks are ****ing us over here in NZ, we are bending over to be rodgered"

[Psilan]

My Totalmoney floating rate is 4.30%.

[Perry]

Re-Appearing Nose-Dived Predictions

21 Nov 2016
Interest rates are going up very fast. At the moment only the long term, but if you do not lock long term now, once the short term rates start going up it will be too late to lock long term it will be too high. So its reasonably safe to assume that interest rates will only go up.

Interest rates to rise 'significantly', house prices fall, economist says
16 Nov 2018
Westpac chief economist Dominick Stephens.

<sigh> When will these self-appointed pundits give up?

Never! Never, I say.

[Bluekiwi]

Westpac wildly jump back and forwards with their predictions.
One that caught me out from them was that in 2003 the property market in Auckland was going into a slump.
I had been caught out in 1997 so was cautious and believed them.

Instead Auckland house prices pretty much doubled from 2002 to late 2006.

[Perry]

Sounds a bit like Davo's experience, in listening to those who think they know better. (Or best.)

They don't.

That's all there is to it - plain and simple.

Listen to and respond / react to the pundits at your peril.

Your 'gut feeling' has as much - if not more - relevance than the over-qualified arrogance of an assortment of tertiary qualified and the little-to-no real life experience-of-worth of the so-called pundits.

[Wayne]

Westpac wildly jump back and forwards with their predictions.
One that caught me out from them was that in 2003 the property market in Auckland was going into a slump.
I had been caught out in 1997 so was cautious and believed them.

Instead Auckland house prices pretty much doubled from 2002 to late 2006.

More fool you.
I just add what they say to the fabric of information I have from many sources then decide for myself.
I prefer if they give reasons for their opinion and weight their view on the validity I see in their reasons.
To just follow advice is silly at best.

[Bluekiwi]

I agree 100%

I was burnt once twice shy

[Perry]

It's a signal the whole economy is going down south. Expect redundancies from NZ companies to accelerate.

How's that prediction looking, some seven months later?