Interest Rates

[leapyeah]

I am going with "scare tactics". Scaring the bank back into issuing press release announcements of rate rises, replete with correct, rather than scarily overblown, figures!

Ellie

BTW: Which are the three banks with the best customer relations?

[muppet]

Hi Guys

ANZ moved interest rates tonite.

Floating rate is up to cover Westpac.

However they have moved 2, 3, 4 & 5yr fixed rates down.

Anybody for chess?

Check out the latest rates on:

http://www.interest.co.nz/mortgages.html

Regards

[inzvestor]

The short answer is to
a) lock in for a bit longer in the first place (and take a gamble that rates will rise)
b) budget your repayments on 2 points higher than you are paying already (thereby reducing principal quicker or saving a bit for unforseen rises in the future)

[muppet]

Hi Guys

Westpac at it again.
They have put 6mths and 1yr rates up and 2, 3, 4, 5yr fixed rates down.

Regards

[cube]

Hi muppet,

What's your source - they haven't changed their web site yet.

cube

[muppet]

Hi Cube

Try:

http://www.interest.co.nz/mortgages.html

Regards

[muppet]

Hi Guys

ANZ have dropped their 2 yr fixed rates to below Westpacs as from this morning.

Competition starting again, instead of being sheep and following each other?
Regards

[muppet]

Hi Guys

Westpac have thrown in a 30mth fixed rate at 7.15% as from tomorrow.

Regards

[drelly]

I just noticed that 7.15% 30 month rate myself... quite tempting if you're on their Redpack scheme as you'd get another 0.2% off that.

[muppet]

Hi Drelly

I don't think the Redpac package applies when considering those special rates.

Those special rates have special conditions so read the fine print carefully.

Regards

[cube]

Correct - Generally, the specials don't get discounted further.

[drelly]

The Redpac discount isn't normally applied no... and it's not on the 18 month rate of 7.15% but according to their website, the 30 month at 7.15% can include the discount. Maybe it's a mistake?

http://www.westpactrust.co.nz/olcontent/olcontent.nsf/Content/Choices+home+loan+rates

[muppet]

Hi Drelly

You could be correct or else someone has left the asterix out.

Regards

[tamara]

hi

We have just got a fixed rate at 6.95 for 12 months. We decided to only fix for 12 months as the previous cycle of interest rate highs and lows is approximately 2 years. We used a different lending organisation than you have been mentioning.

Tamara

[The_Dog]

I recently got 6.7% fixed for one year and 7.05% for 2 years. These were 0.5% off the advertised rates simply by asking the the question. It may have something to do with my good looks, but I somehow doubt it.

Other parts of my loans are still in fixed terms, however the negotiated 0.5% saved me about $1,600, and many times that if I compare what I am paying under the current floating rate.

Simple money by asking the simple question.

Woof