Commonwealth Bank and Westpac, which control 54 per cent of the home loan market between them, responded immediately to the news of a 25 basis point cut in the cash rate yesterday by announcing they would match the cut.Westpac's standard variable rate will fall to 7.61 per cent on November 14. Commonwealth's rate cuts take effect on November 4. The rate for the Complete Home Loan Variable Rate will fall from 7.81 per cent to 7.56 per cent. The rate on the No Fee Variable Rate loan will fall to 6.86 per cent. The Economiser Basic Variable Rate falls to 7.05 per cent and the rate on the Viridian Line of Credit will fall to 7.66 per cent.ANZ and National Australia Bank have their rates under review.A number of small lenders also announced cuts to their standard variable home loan rates yesterday. Bank of Queensland, Horizon Credit Union and Newcastle Permanent all said they would pass on the 25 basis point cut. The rate of Newcastle Permanent's Real Deal loan will fall to 6.7 per cent.FirstMac's online business, loans.com.au, has a range of rate-tracker products whose rates move in line with changes in the cash rate. Borrowers with a Dream Loan Express loan, the lender's most popular product, will see their rates cut from 6.69 per cent to 6.44 per cent.Loans.com.au's head of digital, Andy Salmons, said the lender would be reviewing the rate it offered for new loans in the coming days.