The Reserve Bank is expected to cut the Official Cash Rate tomorrow, but that won't necessarily make it easier to obtain a home loan

Latest figures from interest.co.nz show one-year mortgage rates have fallen from about 7.35 percent to about 6.33 percent so far this year.

But banks are testing borrowers against a higher rate of 8.5 to 8.7 percent, in case circumstances change.

Borrowers are also constrained by debt to income restrictions, which cap how much banks to lend, based how a borrower's income.