Borrower Demand Crossing Unscaled Peaks

Strong competition amidst lenders and an environment of low cash rate have together brought borrower demand towards previously unscaled peaks. An article on the website rebonline.com.au states that AFG, a premier mortgage broking company, has already crossed the $4 billion mark in home loans for the month of October.

The exact figure of $4.057 billion is 12% higher than $3.62 billion recorded in the month of September.

NSW’s home loan figures have increased by 10.9%- this is higher in terms of percentage increase when compared to Western Australia but is lower than South Australia’s percentage hike.

Another trend worth noting is the impact of grant withdrawal for First Home buyers. It has resulted in distinctly lesser applications from First Home buyers.

You can read the original article here.