"These are certainly significant cuts from a big bank, but borrowers shouldn't get too excited. Really, these changes just bring CommBank in line with the other three major banks," he said. Big bank owner-occupier P&I fixed rates The changes come just after CommBank posted a bumper full-year profit of $9.93 billion, a 7.6% rise from last year. "The changes only affect new lending, so they won't make a big impact to the bank's bottom line, but with a profit like this, CBA was clearly in a good position to cut borrowers some slack," Marshall said. CBA's profit announcement also showed that its new lending growth was within the regulatory speed limits set out by APRA. If you like the security of knowing exactly what your monthly home loan repayment will be, a low fixed rate mortgage might be right for you. Head over to our fixed rate comparison table to find some of the best offers around.