Borrowing Activity Smashes Past Records
June 8, 2013
The Australian Finance Group (AFG) has processed mortgages worth $3.6 billion in May. An article on the AFG website reveals that the May figures are a neat 13% above the $3.2 billion recorded for April. It is worth noting that mortgage sales in April had already smashed all past records and so further improvement in May is certainly a cause for delight.
Borrowings have risen across all demography. Western Australia leads the pack with an upswing of 17.7%. It is followed by Victoria, New South Wales, South Australia and Queensland. FHBs, investors and owner-occupiers are all getting into the game.
Trends worth pondering over:
- Phenomenal increase in borrowing activity since Feb
- Loan size reported to be the same as last year
- Loan to Value Ratio trading close to the long term average
- Fixed rate loan activity has dipped slightly
You can read the original article here.
