"In terms of bond rates," says Gareth Kiernan, chief forecaster of Infometrics, "the lift suggests that Trump's proposals to spend on infrastructure will boost economic growth in the US and perhaps inflation. This has pushed up bond rates here as well.
"The recent rise, if sustained, will add to the upward pressure on fixed rates (especially at the longer end of the yield curve), strengthening the case further for people to fix - so locking in for two years is probably a good option at the moment.
"Even if interest rates track sideways over the next one to two years, you're going to be comfortable having locked in a low rate."
Kiernan advises homeowners to do their research before talking to their bank as, despite the LVR (loan to value) and other restrictions put in place recently, it remains a very competitive market.
"Increasingly, over recent years there has been more customer churn as banks have offered significant incentives to new customers that haven't necessarily been available to existing customers.
"Smart customers will be aware of what else is out there, won't be afraid of spending some time talking to other banks, and then going back to their existing bank and asking them to match it."
Especially if you have an account that your salary is paid into, or a credit card, term deposits or insurance with the bank.
That gives home owners a far more powerful position from which to negotiate.
Which is what Auckland homeowner Jeff (not his real name) did last year.
"In 2015 my fixed mortgage was up for renewal," he says.
"Before going in to talk to my bank I visited a rival bank across the road which was offering a $500 fee to switch to them with an existing home loan.
"I went in, got a quote printed out and armed with that went across the road to my bank. They bettered the rate of the bank across the road and paid me $500 to stay with them. A win-win all round."
Locking in for two years is probably a good option at the moment.
Well almost, because just a few weeks later, Jeff says that the rates dived.
"I'd negotiated 5 per cent which was very competitive then but within a month the rates had plunged to less than 4.5 per cent," he says.
If you're not comfortable or confident at the negotiating table, Kiernan advises that home owners work through a mortgage broker.
"Perhaps I'm a bit biased because I've only ever worked through a broker, but I've always found them helpful. And the one occasion I tried to deal directly with the bank, the bank wasn't helpful at all," he says.
"For first-home buyers, using a broker can provide you with information about the broader home-buying and borrowing process. Brokers are also familiar with exactly how much discounting the banks are willing to do off their carded rates and any other possible deals - which the naive borrower might not know or be able to achieve.
"With brokers having been squeezed out of the market over the last 10 years, they also need to offer a wider service than previously, so they can be helpful in terms of broader stuff such as insurance etc.
"Finally, for borrowers who don't fit within the standard bank lending parameters (eg self-employed), brokers will have a good awareness of the non-standard lending options, which can be harder to find or access if you're not familiar with them."
Geoff Bawden, director of Bawden Consulting, recommends that home owners include a portion of their loan at the floating rate.
"Fix the majority to provide stability and float a little to create flexibility and if you have any extra [cash] you can apply that to the floating loan," he says.
"The question you then ask is if you fix, how long do you fix for? Most are chasing rate and historically the cheaper rates are the shorter term rates for one or two years. You often hear comentators suggesting they are a good option.
"It comes down to priorities, if budgeting is important then fixing a bit longer, say three years has to be in the mix because it just gives you some surety for that little bit longer.
"I personally think anything over three years needs a lot more consideration because fixed rates are contracts and five years is a long time to say nothing is going to change."
Is it worth changing banks to get a better rate?
"It can be but it is important to remember that a good option is not always determined by interest rate alone. Structure, ancillary services, and even how easy it might be to do something at a later stage all need to be taken into account."
