In 2019, New Zealand mortgage rates reach a historic low as major banks offer sub-4% rates (one- or two-year fixed term rate of 3.99%). You might be wondering will New Zealand mortgage interest rates rise in 2019? Can I re-fix my mortgage if my current fixed term hasn’t expired yet? Many of our clients have saved a lot by re-fixing their loans at a much more competitive interest rate. So should you re-fix your loan to a one or two-year fixed term with lower interest rates? The answer is: it depends.
1. Your 2019 Update: New Zealand mortgage rates reach a historic low as major banks offer sub-4% rates – 00:55
2. Will New Zealand mortgage rates rise in 2019? – 01:49
3. Can I re-fix my mortgage if my current fixed term hasn’t expired yet? – 03:43
4. Should I break my loan? What should I consider when re-fixing? – 04:38
In New Zealand, even if my fixed term hasn’t expired yet, should I re-fix my mortgage now to take advantage of the current low rates? We see many clients who don’t know that their fixed mortgage periods can be adjusted. Also, we have seen many clients who have struggled on their own to balance the cost of re-fixing, along with other hidden downsides, against the savings they make in interest. What’s more, should I refinance my mortgage and switch banks? Not only can you secure a lower interest rate, but you may also receive a cash incentive from your new bank. But, what are the costs involved in refinancing my mortgage?
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