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

Thousands of Kiwis chasing a cut in their home loan interest rate have caused a jam in the banking system.

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.

Westpac, Kiwibank and ASB have all made cuts to some of their mortgage rates today, as the mortgage war heats up.

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

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

ASB Bank has reported a record $372 million statutory net profit for the six months to December 31, up 31.3 per cent.

The big banks are increasing the amount of residential mortgages they're writing with loan to value ratios (LVRs) in excess of 80 per cent, after tightening home loan lending ratios during the global financial crisis.