If you’re thinking about joining the mortgage broker business, you might just be tipped over the edge, with recent numbers painting a very enticing picture. A quarterly review from CoreLogic RP Data reveals Australia’s soaring real estate demand and growth over the July quarter of 2015. Residential property in the country reached a total estimated […]
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The relationship between mortgage brokers and regulatory authorities is tense after comments made by Wayne Byres, chairman of the Australian Prudential Regulation Authority (APRA). “Third-party-originated loans tend to have a materially higher default rate compared to loans originated through proprietary channels,” said Mr Byres. The comments, made at the Australian Business Economists Lunchtime Briefing in […]
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The Australian property market has been surging in leaps and bounds, with sales and dwelling commitments well up on last year. The favourable interest rates certainly have a part to play in it, as they’ve made home loans more affordable. Consequently, the demand for brokers and financial advisors has been significant. In fact, the Mortgage […]
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More and more Australians are using a mortgage broker to finance their housing ambitions. A recent report commissioned by the Mortgage and Finance Association of Australia (MFAA) revealed the market share for mortgage brokering has skyrocketed to a new record high. Figures show the mortgage broker business accounted for 51.9 per cent of new home […]
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If you’re in the mortgage broker business, you’re likely to have been experiencing unrelenting demand from property buyers. The unprecedented low cash rate, which has remained steady at 2 per cent since May has resulted in low interest rates from lenders, making home loan repayments easier to manage. The thirst for real estate and consequently […]
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Recently released statistics suggest that the property market in Australia has indeed reached its peak. For new homes, at least. The Housing Industry Association (HIA) found that the number of new home building approvals has fallen, mainly due a sharp decline in non-detached housing. Despite this, detached housing approvals remained relatively strong, continuing an 18 […]
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There will soon be better incentive to use a mortgage broker, as home loan costs are due to go up – that is of course, if you use one of of the nation’s major banks. The Australian Prudential Regulation Authority (APRA) has announced increased risk weightings on home loans, but only for the principal four […]
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Our two largest cities have been declared by some to be in the grips of a ‘property bubble’. The basic economic laws are in play in Melbourne and Sydney, with historically low interest rates fueling the thirst for property and subsequently the need for a mortgage broker. Attempts have been made to increase the supply […]
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The historically low cash rate of 2.0 per cent that has kindled Australia’s hot property market is here to stay – at least for another month. The decision to leave the rate unchanged was deemed to be the best course of action by the board, said Reserve Bank of Australia Governor Glenn Stevens. “In such […]
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The confidence of consumers in Australia is continuing its ascent. Consumer confidence is an indicator that aims to interpret the level of optimism about the nation’s economy, not to mention Australians’ own personal financial standing. A high or increasing index means that people will feel more positive about spending money; regardless of whether it’s on […]
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