Many Kiwis re-fixed their mortgage last year and will be re-fixing their mortgage again this year too. 

Four in five borrowers have re-fixed in the past year – a 13-year high. 

And more than two-thirds of fixed rate loans are due to come up for renewal this year. 

Westpac Chief Economist Kelly Eckhold told Mike Hosking most people have been opting for one-year or 18-month terms, instead of longer periods. 

He says those terms have the best interest rates and would have allowed people to benefit from any further OCR cuts. 

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