A mortgage broker is saying not to panic about rising mortgage rates.  

Westpac has announced a 30 basis point increase to its 2-5 year fixed rates. 

They claim the move reflects rising wholesale rates and higher costs for long-term funding.  

Sue Tierney told Heather du Plessis-Allan that people do have the opportunity to negotiate rates. 

She says the bank has an advertised rate, but that doesn’t mean you have to accept it. 

LISTEN ABOVE  

A mortgage broker is saying not to panic about rising mortgage rates. &nbsp;
Westpac has announced a 30 basis point increase to its 2-5 year fixed rates.&nbsp;
They claim the move reflects rising wholesale rates and higher costs for long-term funding. &nbsp;
Sue Tierney told Heather du Plessis-Allan that people do have the opportunity to negotiate rates.&nbsp;
She says the bank has an advertised rate, but that doesn’t mean you have to accept it.&nbsp;
LISTEN ABOVE &nbsp;

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Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more.

The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

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Looking for actionable business insights all in one place? 
We're here to help you find a way with a curation of the &lsquo;best bits&rsquo; from top business podcasts. 
Save time searching; subscribe to the SME Stream where you can listen to relevant, timely, business-related content today.&nbsp;
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Sue Tierney: Mortgage Broker on Westpac raising its 2-5 year fixed rates by 30 basis points

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/3b974a8a-9ba0-4cbf-8d5d-b3ae01441f09/transcript

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all. 

 

Cars: 7/10 

New car sales are up 20%. If that isn't a sign of confidence, I don’t know what is. 

 

The excise debate: 3/10 

Fantastically disappointing. Labour at $4.6 billion is sad, but not surprising. The Government at $1.6 billion and borrowing. Come on, we wanted, needed, and expected better. 

 

The bond markets: 4/10 

It's why we shouldn’t have done the excise business. Money is expensive and getting more so, and no one seems to see debt for what it is – a big fat red flag. 

 

Aeroplane gate: 4/10 

Honestly, the coolest flyover ever until the wowsers got hold of it. And the wowsers don’t even know how to fly a plane. 

 

Less booze: 6/10 

I think it’s the future. The numbers are down and they will never recover. Between health, fitness, and GLP-1s, the world is different. 

 

LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW 

At the end of each week, Mike Hosking takes you through the big-ticket items and lets you know what he makes of it all.&nbsp;
&nbsp;
Cars: 7/10&nbsp;
New car sales are up 20%. If that isn't a sign of confidence, I don’t know what is.&nbsp;
&nbsp;
The excise debate: 3/10&nbsp;
Fantastically disappointing. Labour at $4.6 billion is sad, but not surprising. The Government at $1.6 billion and borrowing. Come on, we wanted, needed, and expected better.&nbsp;
&nbsp;
The bond markets: 4/10&nbsp;
It's why we shouldn’t have done the excise business. Money is expensive and getting more so, and no one seems to see debt for what it is – a big fat red flag.&nbsp;
&nbsp;
Aeroplane gate: 4/10&nbsp;
Honestly, the coolest flyover ever until the wowsers got hold of it. And the wowsers don’t even know how to fly a plane.&nbsp;
&nbsp;
Less booze: 6/10&nbsp;
I think it’s the future. The numbers are down and they will never recover. Between health, fitness, and GLP-1s, the world is different.&nbsp;
&nbsp;
LISTEN ABOVE FOR MIKE HOSKING'S FULL WEEK IN REVIEW&nbsp;

Mark the Week: The fuel excise debate is fantastically disappointing

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/21425427-757e-4949-9636-b4ba0174d53d/transcript

I'm not surprised. But because I'm not surprised, I am disappointed. 

Papers released publicly for the first time reveal the Government considered axing their mad carbon auctions. 

But, and here comes the disappointment, they didn’t. 

They considered dropping them because every time they mucked with the ETS, the confidence in a market they were trying to create was cratered. 

This is not just them, but the previous Government also, who were wedded to the idea that an invented market could work, despite the fact it didn’t. 

Multiple Governments have tinkered and fiddled. They have set prices and reset prices, but each and every auction has basically been a failure. 

Just quickly, if you don’t follow this stuff, there are four auctions a year. You buy credits, if you're a polluter, to offset your environmental damage. 

The trouble is no one turns up; there are no bids and the really bad thing about that is there is no revenue. 

If this actually worked there could be $2 billion worth of income. 

I can't remember how many times I've asked Governments about this, from Robertson to Watts. They all said the same thing, all defended it, and yet the irrefutable proof was, and is, they simply don’t work. 

Credits can be bought and sold in a variety of ways. You can plant trees, you can trade other people credits, but when you are literally dealing with an idea that is invented out of thin air and you have no faith in anyway, why on Earth would you turn up and pay the Government money? 

Obviously, the answer is you wouldn’t, and you didn’t. 

Hence the Government got to the inevitable bit where someone other than me asked "do you reckon this thing is worth sticking with?" 

Under Labour I was not surprised they didn’t kill them because that’s what ideology does to you. It blinds you to logic and common sense. 

But the current lot you would have hoped knew better. Well, as the papers show, they almost did and yet couldn't quite get there. 

So at the next auction, which by the way is September 8th, have a look and see what happens and call me if the answer is anything other than... nothing.   

I'm not surprised. But because I'm not surprised, I am disappointed.&nbsp;
Papers released publicly for the first time reveal the Government considered axing their mad carbon auctions.&nbsp;
But, and here comes the disappointment, they didn’t.&nbsp;
They considered dropping them because every time they mucked with the ETS, the confidence in a market they were trying to create was cratered.&nbsp;
This is not just them, but the previous Government also, who were wedded to the idea that an invented market could work, despite the fact it didn’t.&nbsp;
Multiple Governments have tinkered and fiddled. They have set prices and reset prices, but each and every auction has basically been a failure.&nbsp;
Just quickly, if you don’t follow this stuff, there are four auctions a year. You buy credits, if you're a polluter, to offset your environmental damage.&nbsp;
The trouble is no one turns up; there are no bids and the really bad thing about that is there is no revenue.&nbsp;
If this actually worked there could be $2 billion worth of income.&nbsp;
I can't remember how many times I've asked Governments about this, from Robertson to Watts. They all said the same thing, all defended it, and yet the irrefutable proof was, and is, they simply don’t work.&nbsp;
Credits can be bought and sold in a variety of ways. You can plant trees, you can trade other people credits, but when you are literally dealing with an idea that is invented out of thin air and you have no faith in anyway, why on Earth would you turn up and pay the Government money?&nbsp;
Obviously, the answer is you wouldn’t, and you didn’t.&nbsp;
Hence the Government got to the inevitable bit where someone other than me asked "do you reckon this thing is worth sticking with?"&nbsp;
Under Labour I was not surprised they didn’t kill them because that’s what ideology does to you. It blinds you to logic and common sense.&nbsp;
But the current lot you would have hoped knew better. Well, as the papers show, they almost did and yet couldn't quite get there.&nbsp;
So at the next auction, which by the way is September 8th, have a look and see what happens and call me if the answer is anything other than... nothing. &nbsp;&nbsp;

Mike's Minute: Why didn't the Government drop the carbon auctions?

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/569e5e3c-fee6-4402-9895-b4ba017317ae/transcript

Friday has arrived, which means it's time for Kate Hawkesby and Tim Wilson to join Mike Hosking to Wrap the Week that Was.

They discussed flight cancellations and the stress of being a parent while your kid travels, at what age you should stop handling your kids' problems, and calls from the Electoral Commission. 

LISTEN ABOVE   

Friday has arrived, which means it's time for Kate Hawkesby and Tim Wilson to join Mike Hosking to Wrap the Week that Was.
They discussed flight cancellations and the stress of being a parent while your kid travels, at what age you should stop handling your kids' problems, and calls from the Electoral Commission.&nbsp;
LISTEN ABOVE &nbsp;&nbsp;

Wrapping the Week with Kate Hawkesby and Tim Wilson: Cancelled flights, parenting, calls from the Electoral Commission

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/2c3e6cda-df38-43f0-a123-b4ba01712b2d/transcript

Sue Tierney: Mortgage Broker on Westpac raising its 2-5 year fixed rates by 30 basis points

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