Macquarie Bank yesterday cut rates on a raft of variable rate mortgages by 5 basis points.

The bank, which has established itself as the fastest growing home lender in Australia over the past two years, has lowered its standard variable rate for owner occupiers from 4.39 per cent to 4.34 per cent.

According to market research firm Canstar this rate applies to borrowers paying principal and interest with loan to value ratios of 80 per cent or less.

Macquarie’s variable rate for owner occupiers with LVRs of less than 70 per cent has been sliced to 4.29 per cent.

The bank has also shaved its variable rate for investment borrowers by 5 bps to 4.54 per cent.