Gape at new rates (5)
I believe the answer is:
stare
'gape at' is the definition.
(I've seen this in another clue)
'new rates' is the wordplay.
'new' indicates an anagram.
'rates' with letters rearranged gives 'STARE'.
(Other definitions for stare that I've seen before include "'Look fixedly, without blinking (5)'" , "Look with fixed eyes" , "Rates (anag.)" , "bird" , "Look with fixed gaze" .)