Another lender has announced rate cuts, pipping the big four by more than 50bps
The major banks have held back an average of 55bps of the RBA's cash rate cuts since September 2008
Home building has picked up, and May's rate cut could see even more confidence injected in the sector
Only one bank has thus far passed on the RBA's 50bp cut in full, with the majors holding back on home loan customers
The Reserve Bank has expressed concern that recovery may be some way away for the housing sector
The Reserve Bank’s 50bp cut, in one economist’s view, was an attempt to “hold the banks’ feet to the fire” on mortgage rates.