Commonwealth Bank is continuing to recalibrate its pricing strategy in the residential lending market, after announcing further cuts of up to 20 basis points on fixed-rate owner-occupier and investment mortgages.There has been significant repricing activity in the fixed rate market since June when lenders began to report a shift away from standard variable products by new borrowers.In June, fixed rate borrowers accounted for around 18 per cent of new home loans written in NSW, its highest level in more than three years.While leading economists are divided on whether the RBA will begin tightening monetary policy before June next year, an increasing number suspect that an official rate rise is possible towards the end of 2018. That sentiment appears to have spurred an uptick in demand for fixed rate mortgages.CBA now has the lowest general offer five-year fixed rate for owner-occupiers among the major banks, which is pitched at 4.19 per cent to principal and interest borrowers.While Westpac markets a packaged five-year fixed rate at 4.19 per cent, its standard mortgage offer is priced at 4.39 per cent.The most competitive five-year fixed rate home loans sold by ANZ and NAB are priced at 4.49 per cent and 4.59 per cent, respectively.CBA has been the most active of the major banks on fixed rate mortgage pricing in the last month.In the second week of August, the bank also sliced rates on its one, three and five year mortgages.However, CBA is the least competitive of the big banks on three-year fixed rates, with its general market offer of 4.14 per cent.The other three majors are each promoting fixed rates at below four per cent for three years.According to Canstar, loans.com.au is the price leader among all lenders for three and five-year mortgages, each priced at 3.64 per cent.