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I just sent an email to my bank reading this, as we agreed a couple of weeks ago they were able to hold a rate for 60 days for me, about to take out a big fixed loan to do my trading in rather than use the LOC, will just keep it for a backup, may as well commit to the lower rate, just means i will need to keep trading as i dont want to end up paying it and not having any property against it. That would be silly.
ANZ, Kiwibank and ASB have all recently increased their short term rates. interestingly, many non bank lenders have dropped their 2 year rates... very interesting times indeed.
ANZ 2 year is rumoured to drop from 9.15 to 8.95 on Monday.
Well I guess my rumour was a couple of weeks to early.
It seems most banks have lowered 2 year rates but not as much as I was suggested.
Interesting point though is the 1 year rates seem to be creeping up now.
This gives you an idea of were the banks predict rates to be shortly. They would be suggesting to fix for 2 years which implies they may think they are lower in 1.
Pretty much like TAB gambling really, you are better off using Hybrid's interest rate averaging principle.
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