The OCR dropped 25 basis points again yesterday - but many homeowners have wondered why their mortgage rates haven't followed.

Many people currently on floating rates have yet to see the impact of the cuts materialise, and there's usually a week-long delay OCR changing and banks following suit with their various mortgage rates.

Kent Duston from the Banking Reform Coalition says it's unclear why it takes the banks so long to adjust things.

"After all, it's no harder than just hitting the return key on the keyboard. Really, there's no reason why it should not happen on the exact same day that the Reserve Bank lowers the OCR."

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