Interest Rates

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15 years 6 months ago #15937 by cantyguy
Interest Rates was created by cantyguy
The cut in interest rates by the reserve bank today is i guess really good for most people but for me it has added $000,s on the fees it will cost me to pay back my fixed term mortgage early when I sell.:(

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15 years 6 months ago #241165 by reggit
Replied by reggit on topic Interest Rates
How long has your fixed rate got to go, CG?

Yes, from our end even the rate cuts so far have made a helluva difference...the one even before this one (9.45-8.7) takes $300 off our interest payments per month...and ours is a modest mortgage compared to many...

Take a break...while I take care of your home, your block, your pets, your stock! [;)] PM me...

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15 years 6 months ago #241167 by Kilmoon
Replied by Kilmoon on topic Interest Rates
We have one of our term deposits nearly due for roll-over - current interest rates are about 3% lower than what we initally fixed for :( . Bloody interest rate cuts are costing us money!:rolleyes:[}:)] As for mortgage rates.....

...whats a mortgage???[;)]

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15 years 6 months ago #241168 by reggit
Replied by reggit on topic Interest Rates
Ah Kilmoon, if only we were that side of the balance sheet also...[;)]

Take a break...while I take care of your home, your block, your pets, your stock! [;)] PM me...

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15 years 6 months ago #241170 by Kilmoon
Replied by Kilmoon on topic Interest Rates
Well Tigger - if we ever buy another property we want a larger amount of land. So with what we would get with our current place we would also be having a mortgage.

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15 years 6 months ago #241171 by reggit
Replied by reggit on topic Interest Rates
Thats what happened to us, Kilmoon - very hard going from a mortgage that had been paid off for several years to taking on a much bigger one :(

Take a break...while I take care of your home, your block, your pets, your stock! [;)] PM me...

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15 years 6 months ago #241189 by oskatd
Replied by oskatd on topic Interest Rates
Cantyguy, that is precisely why we've never fixed our mortgage, unless it was for 6 months at a time. Still, on the up side, in the current market not much is selling... Which is a downside for us.....

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15 years 6 months ago #241206 by DiDi
Replied by DiDi on topic Interest Rates
Kilmoon - I'm in the same boat.:( Not happy! [}:)]

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15 years 6 months ago #241218 by sod
Replied by sod on topic Interest Rates
With us no mortgage:) but also no money to invest:( or more like no money at all LOL

Having time is a measure of enthusiasm:rolleyes:

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15 years 6 months ago #241346 by cantyguy
Replied by cantyguy on topic Interest Rates
Tigger, 14 months to go but as a ball park figure has now more than doubled to over 10k on a modest mortgage.
I think a delayed settlement might be in order and just transfer the security to another property.

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15 years 6 months ago #241349 by terralee
Replied by terralee on topic Interest Rates
Mmmmmmmmm same boat here ...No mortgage and we have reinvested our savings for 12 months did that in October BEFORE the rates dropped too low:):):)
Cheers

Leonie & Zoo!!! :silly: :woohoo:

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15 years 6 months ago #241382 by hilldweller
Replied by hilldweller on topic Interest Rates
I just keep thinking I could borrow the money for a haybarn, which I guess is perhaps what Alan Bollard might want me to be thinking LOL.

Ronnie from up North where are you? Heeeeeeeeeeelllllllllllllpppppppppp!

hilldweller

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15 years 6 months ago #241532 by PRU2
Replied by PRU2 on topic Interest Rates
And there lies the answer, "You can never keep all of the people happy all of the time"[}:)].
On this page I read : some of you with fixed mortgages :(
some of you with fixed savings. :D
Some of you have mortgages because of the fixed savings.
We have mortgage's ( plural ) which works to our advantage, we didn't deliberately set out have more than one, but, we have them rolling over at different times of the year and only one we would have to buy out of ($230), another has just gone onto floating ( which is a lower rate ) and we have another due next year ( $0 buy out ). We have spread the net so to speak. Having one huge amount of money tied up for a long fixed term is, in my personal opinion high risk. And as I am not one of them I am happy with our finances. :D :D

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