PHOTO: RateCity money editor Sally Tindall said it’s the first reprieve for investors. Source: Supplied

INVESTORS who were shut out of the housing market by a crackdown on interest-only loans could soon be back in force – with half the Big Four banks dropping rates and reopening the floodgates.

In the first big sign of a reprieve for investors, both the Commonwealth Bank and Westpac Banking Corporation have reversed moves made against their interest-only portfolios, with CommBank slashing its two-year fixed interest only investor rate by 50 basis points on Friday, and Westpac dropping its version by 14 basis points.