An expectation mortgage rates will continue to fall

The Reserve Bank's cut the Official Cash Rate by 50-basis points to 4.75-percent.

It's in response to subdued economic activity - caused by low productivity growth, as well as weak consumer spending and business investment.

A number of banks have reacted - lowering their home loan and lending rates.

CoreLogic chief property economist Kelvin Davidson says the OCR is clearly on a steady downward path, which'll likely bring down mortgage rates with it.

He says that will flow through to increased housing sentiment and direct cost-savings for those borrowers - so there's probably some brighter times ahead for borrowers.