Outgoing Reserve Bank Governor Alan Bollard has delivered his final Monetary Policy Statement and left the OCR unchanged at a record low of 2.5 per cent.

Home owners with big mortgages can breathe a sign of relief - interest rates seem destined to stay low, despite a springtime house-price surge.

The steady life in sales and prices started in the central Auckland suburbs over a year ago and has now spread across the new supercity. But as Bruce Morris reports, it's still tough going out in the provinces.

Bank economists suggest it is time to fix at least part of your home loan.

Mortgage rates have hit rock bottom as banks offer thousands of dollars in cash and slash advertised interest rates in response to pressure from home-buyers for deals.

BNZ has cut a key mortgage rate this morning, following rate cutting by other banks on Saturday morning.

Ask for a better deal...

Westpac Banks says it's time to fix mortgages, ANZ says it's best to wait a bit.