The larger the Official Cash Rate cut, the bigger the impact for people wanting a home loan

One-year mortgage rates have fallen as low as 6.33 percent - from about 7.35 percent - but banks are making sure borrowers can afford up to 8.7 percent, as a safety net.

A Massey University report shows home affordability has risen for the first straight quarter.

Loan Market's Bruce Patten says that bank affordability test rate will depend on whether the OCR's cut 25-basis points, or 50.

He thinks there'll be big movement once the Reserve Bank signals its intentions - and if it doesn't pick 50, there'll be a bit of anarchy out there.