If you promote it, they will come. The recent moves by some of the major banks to advertise three-year fixed mortgage rates at rates appreciably lower  than shorter term rates has seen a marked spike in new mortgage customers taking out that term. However, for owner-occupiers, the one-year fixed rates remain the most popular. These are the stand out points for the May month in the Reserve Bank's new data series that covers new lending or facilities loaded in the reporting month. This is different to other RBNZ series on mortgage lending, which report new mortgages on the basis of when they have been committed to, rather than when they've actually been taken up.

https://www.interest.co.nz/personal-finance/122874/new-data-series-reserve-bank-shows-recent-promotion-lower-interest-rates

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