Interest Rates

[muppet]

This thread is about interest rates
NOT
about whether it is going to rain tomorrow.
Keep to topic please
OR
start a new thread.

[McDuck]

This thread is about interest rates
NOT
about whether it is going to rain tomorrow.
Keep to topic please
OR
start a new thread.

HaHa.
So basically that leaves you just reporting the interest movement to be found on any other financial webite.
Other than that you are crystal ball gazing, based on arguable contributing factors.
Then the discussion gets down to what and how and credibility.

Interest is the compensation paid for the use of other people's money.
Who and where they are, and alternative uses for it, surely are directly related content.
Because... that moves the price of money....or as we call it...interest

You do have a point, but your timing is terrible. Ha.

[quebec]

Westpac says no to cash backs for existing customers. I have been dealing with someone at their Mortgage Retention Unit or something for the past few years and was offered cashback but had to sign a 2 year agreement and now the person who i was dealing with has resigned. I was told by the other person that WPT changed policy and now no more cash backs for existing customers. It's just a pain to move banks etc. Fixed rate expiring end Jan, Mortgage around $480K. Any thoughts? Can a broker negotiate cashback with the same bank? I don't understand this policy where banks are happy for you to move but won't offer cash back to retain you?

[Nick G]

Get an offer to move and see if they match. Try [email protected]

[Don't believe the Hype]

lots of little red arrows... trouble on the horizon for variable or short term fixed borrowers?

http://www.mortgagerates.co.nz/mortgage-rates.html

[big fella]

lots of little red arrows... trouble on the horizon for variable or short term fixed borrowers?

http://www.mortgagerates.co.nz/mortgage-rates.html

yes I think you are right. those highly geared with little or no cash reserves must be surely be starting to get concerned

[Nick G]

I just sold the last of my places I don't want to hold long term. Cash = good. Cashflow = good.

I only have two properties right now, which scuppers any chance of being a guru.

[Don't believe the Hype]

I just sold the last of my places I don't want to hold long term. Cash = good. Cashflow = good.

I only have two properties right now, which scuppers any chance of being a guru.

See that is not true... you just might survive any bumps in the road, learning more along the road... you don't need large numbers of property to be a guru. There is something to be said about those who are cautious.

I think you're well placed to take advantage of what is coming... whatever that is

[Wayne]

lots of little red arrows... trouble on the horizon for variable or short term fixed borrowers?

http://www.mortgagerates.co.nz/mortgage-rates.html

I must say it seems to be going up faster than I expected.
I fixed some for 3 yrs last month for 4.39% (Westpac) and now I see their special is 5.09%

[Don't believe the Hype]

I must say it seems to be going up faster than I expected.
I fixed some for 3 yrs last month for 4.39% (Westpac) and now I see their special is 5.09%

scary isn't it!!

imagine if you'd just bought a property with a gross yield of 3.5% and thought you'd ride out the coming interest rate rises... Hold on to you hat!!

[brokerman]

Agreed they are rising faster than expected. BNZ raised theirs yesterday and Westpac today, the 3 year money particularly hit as fixed a Client yesterday at 4.6 and now is 5.09%

[Wayne]

I suspect that when my next refix comes up in a few months I will be looking at 2yrs as the 3yr will be out of the money.

[brokerman]

I suspect that when my next refix comes up in a few months I will be looking at 2yrs as the 3yr will be out of the money.

Remember most Bank allow you to refix 60 days out.

[Wayne]

Remember most Bank allow you to refix 60 days out.

I know - when I said a few I meant more than 2. The next is 15th April then some in June

[brokerman]

I know - when I said a few I meant more than 2. The next is 15th April then some in June

All good, well maybe not so good!.........the size of the recent rises has surprised most so hopefully we've seen the worst and future rises will be small.