The average interest rate on housing loans has "fallen by around 15 basis points since the cash rate was reduced in August 2013," the Reserve Bank of Australia highlighted yesterday in the minutes of its August Monetary Policy Meeting.The cut - a market-driven easing in monetary policy - still falls well short of the margin fattening by banks that was a characteristic of the post-crisis period."Australian banks continue to raise funds relatively cheaply," the RBA said, with "lower funding costs and competitive pressures" working their magic on housing loans rates recently.