Mortgage rates are continuing to fall, but it isn't getting any easier for many people to access bank loans. 

Latest figures from interest.co.nz show one-year mortgage rates have fallen to around 6.33%, down from about 7.35% in January. 

But banks have told our newsroom they're still testing applicants at between 8.5 and 8.7%. 

Loan Market Mortgage Advisor Bruce Patten told Mike Hosking that banks are being overly cautious at the moment. 

He said that it won’t be until inflation rates get back to normal that they’ll ease off on the caution. 

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