This graph from the BNZ Weekly Overview makes fixing look attractive, however there is no hurry to jump into fixed rates at the moment as floating rates are not expected to increase for awhile because of weak domestic data.
Most economists don't expect the Official Cash Rate to increase until March next year, so there is time on the hands of borrowers to stay floating. BNZ is forecasting that the floating mortgage rate will peak at just 8% come early 2012.
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