welcome to r j s & associates
On June 2022, the latest data released by Comparator (CoreLogic Business), Mortgage Brokers was able to facilitate 68% of all new residential home loans.
This result is considered the highest for a June quarter since the measure has been tracked—a significant 9 percentage point increase compared to 59% achieved in the same quarter in 2021 and an 11 percentage point increase on the 57% recorded in the June 2020 quarter.
According to data, the value of home loans settled by mortgage brokers reached a new peak at $96.08 billion during the quarter. This isn't only the highest value of broker-originated home loan settlements for any quarter on record, it also represents a 23.58% year-on-year increase and an increase of 81.97% compared to the equivalent quarter in 2020.
“This is an incredible result for mortgage brokers, particularly in an environment of rising interest rates and a slowdown in the property market,” said incoming MFAA CEO Anja Pannek.
“It is clear from the strong growth in the proportion of home loans written by mortgage brokers over the past few years that customers value the service mortgage brokers offer.
Pannek also added that "market conditions like we are seeing now further highlight the benefits of using a mortgage broker who can explain the array of different lenders, products and options available to their clients."
These results further demonstrate ongoing increases in consumer trust and confidence in the industry, following five years of successful reform.
This article is published by R J Sanderson and Associates Pty Ltd ABN 71 060 299 783. This article contains general information only and is not intended to represent specific personal advice (Accounting, taxation, financial or credit). No individual personal circumstances have been taken into consideration for the preparation of this material. It is recommended that you obtain your own personal professional advice before making any financial or business decision.