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  1. #21
    Member skeet's Avatar
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    Its interesting, I wonder how long do Kiwis own houses compared to the rest of the world? Im in my first home and I think a 2 year mortgage is long at present. Maybe my thought process will change once I buy something bigger that would suit my longer term plans.
    "Gold is money, everything else is credit"- J.P. Morgan

  2. #22
    Advanced Member
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    Feb 2011
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    Wellington
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    Quote Originally Posted by blackcap View Post
    Funny how different jurisdictions look at things differently. Was recently in Holland where my peers were talking about the option to fix for 10 years or fix for 20 years. The 10 year rate was 2.2% the 20 year rate 2.8%. My mate went with the 20 year rate on his new house.
    Wonder why we do not get these types of terms to be able to fix in NZ or at least why they are not common?
    One of the reasons it is not common is there is nothing for the banks to hedge up against for longer than 10 years , I think 2027 the longest Govt Bond in the market . If there were some longer maturities that were liquid someone might take a look at it . Think HSBC had a 10 year rate a while back , not sure these days .

  3. #23
    FEAR n GREED JBmurc's Avatar
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    Sep 2002
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    TSB had a 5.99% for 10yrs awhile ago ...would have been a few thinking that was a ripper of a deal ....but now with two more cuts to come we should well see many short term rates into the 3's
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

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