interest.co.nz describes it as March Madness and certainly rates have turned on their head and quickly. Suggested pressure on long term rates has turned into reality and the big increase are in those 3-5 year rates.
For prospective borrowers the main thing is that we can see competitive differences between the lenders open up and there are reasonable differences between lenders under certain rates.
So you can compare apples with apples decide how long you wish to fix for without considering price.....think about the factors that influence that....job security, the possibility of having kids and going down to one income, the liklihood of selling within a certain timeframe.....these factors are just as important as interest rate. And if its certainty you want then look to lock in long.
Then once you have decided that let's say those factors indicate a 2 year fixed rate........well then its not rocket science to consider anyone aside from ANZ National.
We'll always work with you to explore those options but dont ignore those lifestyle factors that can help us to determine the best options!
Subscribe to:
Post Comments (Atom)
with floating rates so low I think I will be staying there until its no longer viable. I cant see the OCR screaming back up again in the near future so we may all be able to take advantage of the low floating for some time yet. however this is always a gamble so I think its the risk to take if you can afford it to go the other way. most of my clients cant afford to go back to 8+% so should be fixing just for security sake!
ReplyDelete