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Fix Short or Long Your Mortgage | Auckland News
If you’re eyeing your home loan and wondering whether to lock in a fixed rate, here’s the crunch: short-term fixes (6 months to 1 year) are cheaper—around 4.75% to just under 5%—but longer fixes (2–5 years) cost more, at 5.39% to 5.69%. The trade-off? Shorter terms save money now but offer less certainty; longer ones give peace of mind at a higher upfront cost. With economists predicting another half-percentage point hike in the cash rate, those one-year rates could soon be more expensive than today’s longer-term options. Historically, shorter fixes saved money—but if rates jump faster than…
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