Other banks are expected to follow suit as ANZ drops its mortgage rates from today. 

Its standard one-year fixed home loan rate's dropping by 14 basis points to 5.25%, while the two and three-year rates will be cut by 20 basis points. 

The move comes after Westpac cut its longer-term home loan rates last week. 

Loan Market CEO Bruce Patten told Mike Hosking banks are all a bit quiet at the moment. 

The mortgage advisor says they had a really busy period before Christmas and then the Iran war kicked off in February, so he thinks the move is an attempt to stir up business. 

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