Westpac is cutting its two year fixed rate to match that of rival ASB.
Westpac said from Tuesday it would cut its rate from 5.65 per cent to 5.59 per cent.
The rate is only available to people with equity of at least 20 per cent.
Westpac's cut follows that made by the ASB last Friday.
ASB reduced its rate 5.70 to 5.59 for borrowers with at least 20 per cent equity.