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One bank has cut its fixed rates by 12 points after already making two rounds of cuts to its fixed rates this year.
Citibank has reduced the three-year rate for its Mortgage Plus home loan from 4.99 per cent to 4.87 per cent.
Mortgage Plus includes a free 60-day rate lock and has no monthly account-keeping fees.
Citibank announced in January that it was cutting its four-year rate from 5.79 per cent to 5.39 per cent and its five-year rate from 5.99 per cent to 5.59 per cent.
It announced further reductions in April, with the one-year rate falling from 4.74 per cent to 4.59 per cent and the five-year rate falling from 5.59 per cent to 5.39 per cent.
Banks recently told The Adviser they were feeling the pressure of competition with one lender after another cutting rates in 2014.
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