Fixed or Floating?

It certainly pays to shop around when looking for a mortgage and mortgage brokers can often be helpful in finding the best deal. Remember that things like upfront fees are often negotiable.

Your first decision is whether to go for a fixed rate or a floating rate. Normally the wise thing to do is a mixture of both but with fixed rates now starting to trend upwards  it is worth considering  locking in a fixed term mortgage while the going is good.

Here are our Top 5 mortgage rates from banks.

Company Floating 1 Yr Fixed 2 Yr Fixed 5 Yr Fixed
SBS 5.79% 4.59% 4.85% 5.85%
ASB 5.80% 4.45% 4.74% 5.69%
Kiwibank 5.70% 4.45% 4.79% 5.99%
Bankdirect 5.80% 4.45% 4.74% 5.69%
Westpac 5.95% 4.90% 5.29% 6.09%