Rate cut yields online surge

by BN08 Nov 2011

Mortgage Choice has claimed a massive spike in traffic to its online mortgage calculator in the wake of the RBA rate cut.

The broker said its "How much can I afford to borrow?" online calculator saw a 357% increase in page visits the week of the RBA's move on rates as compared to the preceding week. Mortgage Choice spokesperson Kristy Sheppard has predicted the surge in traffic will yield more borrowers moving into the market to take advantage of rate decreases.

"It looks like the recent interest rate drop was the signal many buyers were waiting for to spur their property purchase plan into action. I’d say a number of them are especially eager to make a move now to take advantage of grants and concessions due to expire early in the new year," Sheppard said.

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