Rate cut yields 'massive increase' for top broker

by Adam Smith09 Nov 2011

The Melbourne Cup RBA rate cut has already filtered through to a massive increase in customer enquiries, a WA broker has said.

MPA Top 100 Broker Warren Dworcan of Rate Detective Home Loans in Osborne Park told Australian BrokerNews he has seen a significant spike in enquiries and leads since the cash rate reduction.

"Fortunately, we've probably seen - and this is a big call - almost a threefold increase from a month or two ago," Dworcan said.

Refinancer interest has been piqued by the move, while first time buyers may also find the market now easier to enter, Dworcan said.

"As soon as rates start moving people naturally become curious about what's out there."

Dworcan said it remained too early to identify a pattern of enquiries as a result of the cut, but that he had seen enquiries from a variety of borrower profiles.

"Because it hasn't been long enough to judge it, all I can safely say is there's been a massive increase in enquiries and leads coming through in all areas," he said.

Related stories:

Rate cut yields online surge

RBA cut will help struggling families