A theme in commentary at half-year results presentations over the past few weeks was that competitive pressure in the mortgage market is easing, but the latest home loan pricing data suggest lenders are still jostling to win business. According to the latest Mozo Banking Roundup, lenders cut variable rates by up to 40 basis points and fixed rates by up to 80 bps last month. ‘There were a few large reductions, as lenders sought to stand out in the crowd,” said Mozo. In the variable rate market, AMP Bank, which has been losing share, cut rates by up to 20 bps. ING Bank, which has also struggled to hold share in recent times, cut rates by up to 15 bps. Bank of Queensland cut select rates for higher loan-to-valuation ratios by up to 40 bps. G&C Mutual bank cut rates by up to 29 bps. In the fixed-rate home loan market, AMP cut rates for all terms by up to 50 bps and ING cut by up to 40 bps. HSBC cut rates for all terms, with reductions between 45 and 80 bps. Qantas Money and Well Money cut by up to 60 bps. The lowest variable rate in the market fell from 5.89 per cent to 5.8 per cent last month (for a G&C Mutual owner occupier loan).  The lowest one-year fixed rate is 5.79 per cent (down from 5.9 per cent a month ago), which is being offered by HSBC.  The lowest two-year rate is Australian Mutual Bank’s offer of 5.63 per cent, unchanged from last month, and the lowest three-year rate is Australian Mutual’s offer of 5.48 per cent – also unchanged. The lowest four-year rate is 5.69 per cent (down from 5.8 per cent) and the lowest five-year rate is unchanged at 5.63 percent  Commentary has also suggested that cashbacks are coming to an end. While it is true that the number of lenders offering cashbacks has come down from the peak of 35 in March last year, there are still 11 lenders making offers. Mozo reported that Greater Bank has extended its A$3000 cashback offer from first home buyers to refinancers. Newcastle Permanent has increased its cashback from $2000 to $3000.