Interest rates are creeping up. If you are tempted to lock one in, here are a few things to consider.
What's the best rate available?
Price isn't everything, but it helps to get the best one you can. At the moment, that might mean taking a short-term rate.
ASB economist Kim Mundy said the one- and two-year rates were still the cheapest at most banks and about 0.8 of a per cent below the floating rate. By contrast, the four- and five-year fixes, while still well below the 10-year average, are higher than the floating rate.
from
http://www.stuff.co.nz/business/94334937/Thinking-about-fixing-your-loan-Heres-five-questions-to-ask
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