Another big surge in Swap rates today:
https://www.interest.co.nz/charts/interest-rates/swap-rates

NZ Govt 10 Year 2.60% divergence from Aus 1.87% and US 1.55% to China 3:00 % and we all know what's currently happening there (Evergrande)

For mortgage borrowers, are I year fixed rate heading to 4% and 5 year fix rate to 5%?

Batten down the hatches everyone, Comrade Corrupt still spending money like a Drunken Sailor ($1 billion a week for lockdown) and it was her Finance Minster that signed off the LSAP which flooded the economy with money.
https://www.rbnz.govt.nz/monetary-policy/monetary-policy-too
ls/large-scale-asset-purchases

ian1990 - 2021-10-28 23:06:00

This message was deleted.

gabbysnana - 2021-10-29 08:03:00

Printing money. Running up huge debts.
Never, ever ends well.

Edited by pcle at 8:13 am, Fri 29 Oct

pcle - 2021-10-29 08:13:00

Trade Me wrote:

The originally quoted post has been removed.

I think that’s your best post ever, gabbysnana.

sparkychap - 2021-10-29 08:16:00

Trade Me wrote:

The originally quoted post has been removed.

Don’t hold back with your comments tell people what you really think ????

toyboy3 - 2021-10-29 09:21:00

toyboy3 wrote:

Don’t hold back with your comments tell people what you really think ????

I don't think Ian spends much time doing that.
It's more about feelings and kindness.
Logic and common sense are a nasty white wing construct or something.

pcle - 2021-10-29 09:36:00

Ha like nearly every central bank hasn't been doing the same. US is still giving out money hand over fist. Our CPA keeps sending reminders to us not to miss out.
On the other side in retail banking we have house sale proceeds in the US that we thought we might leave in a CD for a while so looked at the current prevailing rates. Sheesh, some stellar rates such as 0.03% APY all the way to 1.1% APY. Makes our lot look generous.

hers.nz - 2021-10-29 10:30:00

O/P probably has a much better plan which can never be challenged, as it will never be implemented.

When did U.S.A. last balance its budget? 2001, according to Wikipedia.

amasser - 2021-10-29 10:43:00

The banks are laughing all the way to the bank...lol...Flood the market with low interest loans...baiting the hook, then watch house prices go into space.. enabling steady profit margins....then bump the rates and squeeze the punters for every nickle they have....call it a stress test...lol . Theyve got a book full of folk that are committed to eternity ,,,, no wonder near 40% of account holders have less than 1 k in savings...
https://www.stuff.co.nz/business/126800836/four-in-10-people
-have-less-than-1000-saved-in-case-of-need-asb-says
How many folk are just looking after that million dollar property for the for the bank thinking they own it...Until that mortgage is cleared the bank owns it? The RB in my opinion made a seriously big mistake in consistently lowering the OCR ... it didnt need to go there....now what will it do?

Edited by phalanax at 12:04 pm, Fri 29 Oct

phalanax - 2021-10-29 11:50:00

Did gabbysnana Go Hard, Go Early and try to get band with two weeks to go?

ian1990 - 2021-10-29 23:15:00

phalanax wrote:

The banks are laughing all the way to the bank...lol...Flood the market with low interest loans...baiting the hook, then watch house prices go into space.. enabling steady profit margins....then bump the rates and squeeze the punters for every nickle they have....call it a stress test...lol . Theyve got a book full of folk that are committed to eternity ,,,, no wonder near 40% of account holders have less than 1 k in savings...
https://www.stuff.co.nz/business/126800836/four-in-10-people
-have-less-than-1000-saved-in-case-of-need-asb-says
How many folk are just looking after that million dollar property for the for the bank thinking they own it...Until that mortgage is cleared the bank owns it? The RB in my opinion made a seriously big mistake in consistently lowering the OCR ... it didnt need to go there....now what will it do?

I agree, low interest rates were one of the worst things to happen.

Edited by loud_37 at 9:50 am, Sat 30 Oct

loud_37 - 2021-10-30 09:50:00

loud_37 wrote:

I agree, low interest rates were one of the worst things to happen.

No. People taking them up was one of those worse things.

headcat - 2021-11-01 15:06:00