mortgage interest rates..whats ??.....

Unfortunately they do seem to have started going back up again.

Anyway, this site seems to have the latest mortgage rates for most/all places. Hope it helps!

Oh - and if you find a rate cheaper somewhere else, your bank will probably match it.

We re-fixed 9 months ago, and only for short periods 1-2 years as the shorter terms are the lower rates.
The next OCR is due out in April and isn't expected to change.
Most economists / advisors are recomended fixing for no more than 2 years.

Ours is 5.8% with Westpac

Thats depressing that they are starting to head up again, ours is due in June and we have been on a nasty rate

We did ours last March and got it fixed for 3 years at 5.99%

They are talking as if they will start to go up mid this year...

We were paying 7.6 so just left the payments at that so we can get rid of it quicker... or if we fix again when it comes up wont get so much of a shock.

was anyone else on a higher rate from 08 like me???? - 8.7%......

BaAsKa wrote: was anyone else on a higher rate from 08 like me???? - 8.7%......

We're on 9.3%, and it's fixed until next Feb. It was the lowest rate at the time that we bought (Feb 08). I will be happy if it's at 7-8% next Feb and not back up at 9.3%

We have been on 9.06%, can't wait to go down!

Whats the reasoning behind you guys splitting it up like that?

We split ours too, with most of it fixed and part of it on capped, it was so we could pay extra if we wanted too, in the end we havn't used that facility, but it was great when interest rates were dropping and our mortgage was going lower. We now have 10,000 available in that account if we need it for renos etc without having to refinance.

ATM floating is the best rates at our bank and we'd be tempted to leave it on that and see what interest rates do.

We kept our repayments the same as when we started, so have paid a large portion of our principal off, helps that I'm still working, also means we can reduce our repayments to as little as $600 a fortnight if we need to.

Ours is floating, we are with BNZ on 'totalmoney', so interest is offset over all accs, so If we have 10K in the accounts and a 150K mortgage (for example), We are charged interest only on the 140K. Least I think thats how it works We pay over the minimal repayment which means that we can borrow back without affecting our repayments, which is useful as it's a new property and landscaping seems to go on forever. We'll lose the flexibility a bit when we fix though

ANYWAYS what I actually was trying to say is that we've been recommended to float for 6months or so, before looking at fixing again. You can float for as little or as long as you like, and then you can get the best of both worlds, if that makes sense.

We have been floating on 6.39% since Oct. Will probably fix for 2 years next month, hopefully the rates don't change too much in that time. I really doubt they will go back up to the 9% mark but it's impossible to know for sure. If we fixed today for 2 years it would be at 7.15% so yours is a good rate :) I think you just have to consider where you will be at over say, 3 - 5 years and go from there.