Community First Credit Union bucked the trend yesterday, when it announced that it would cut its standard variable mortgage rate by 22 basis points and not 25. The new rate is 6.12 per cent.It will be interesting to see if any other mutuals decide not to pass on the full reduction in the cash rate. Mutuals get most of their funding from retail deposits, which is still an expensive source of funding.Banks have had the advantage of a much lower cost of funds in the wholesale markets this year.So far, all other lenders that have cut rates in response to the Reserve Bank's reduction in the cash rate have cut them by 25 basis points.Among lenders that announced changes yesterday, IMB cuts its rate to 5.91 per cent, P&N Bank to 5.9 per cent, bankmecu to 5.74 per cent, and loans.com.au cuts its rate to 4.75 per cent (for dwelling purchases only, not refinance). On Tuesday, National Australia Bank announced that it would reduce its standard variable rate to 6.13 per cent. Commonwealth Bank cut its rate to 6.15 per cent and Westpac to 6.26 per cent.Bank of Queensland cut its standard variable rate to 6.26 per cent, Suncorp Bank to 6.24 per cent, ING Direct to 5.47 per cent and UBank to 5.12 per cent.