Is it worth fixing your home loan for longer?

<p>Home loan borrowers choosing the right term to fix for have a choice: take the cheaper short-term rate or lock in some certainty for longer, at a slightly higher price.</p> <p><b>By Susan Edmunds </b><a href="https://www.rnz.co.nz/news/personal-finance/1319082/is-it-worth-fixing-a-home-loan-for-longer" target="_blank"><b>of RNZ</b></a></p> <p>Interest rates have risen from their lows of the end of last year and early this year.</p> <p>Six-month rates at the big banks are around 4.75%. One-year rates are just under 5%, and two-, three-, four- and five-year rates are between 5.39% and 5.69%.</p> <p>So is it worth locking in for longer?</p> <p>ASB senior economist Chris Tennent-Brown said one-year rates were still about 2.5% below their last peak.</p> <p>He said people deciding what term to choose had a trade-off to make.</p> <p>"It's not all about picking the bottom of the mortgage interest rate cycle, especially now with the balance of risks and market pricing pointing to higher mortgage rates."</p> <p>He said many people…