Brokers have solidified their presence in the mortgage market by becoming Australia’s majority writer for home loans for the first time in history.
A Mortgage & Finance Association of Australia research found that brokers accounted for 51.5% of home loans, up from the June and March quarter, finishing at 49.7% and 49.9% respectively. Brokers are making their presence felt in the mortgage market after being responsible for 67% of home loans from 19 aggregators for the 12 months to September 2014. Because of these contributions, brokers have accounted for $37.7 billion of the $56.2 billion increase in home loans, according to the Australian Bureau of Statistics.
Read more about this on the Adviser website.