Look for new rates (5)
I believe the answer is:
stare
'look' is the definition.
(stare is a kind of look)
'new rates' is the wordplay.
'new' is an anagram indicator.
'rates' anagrammed gives 'STARE'.
'for' is the link.
(Other definitions for stare that I've seen before include "Gaze fixedly" , "Rates (anag.)" , "Long fixed look" , "Gawp" , "bird" .)