A quarterly competition index shows non-majors are faring best with first home buyers, with their share of first home buyer loans rising to a record high
The highest ever recorded amount of new loans for investors – $1.6 billion – were processed by one brokerage during March
Australia’s largest mortgage broker aggregator processed more mortgages last month than for any February on record, but first home buyers are falling to worrying levels.
The consumer’s mortgage dollar is being fiercely fought over by banks in what could be the biggest battle in two decades, one industry expert has said.
Second-tier lenders lost much of the market share they gained in late 2013 as the big four took advantage of record January mortgage figures.
Non-major lenders tripled their market share of new fixed-rate loans in the final quarter of 2013, the latest statistics show.