Intermediary channel settles $130 billion in new home loans, new MFAA figures show
Mortgage brokers accounted for more than three-quarters of new residential lending in the September 2025 quarter, as borrowers continued to favour intermediated advice in a complex rate environment.
According to the latest Quarterly Market Share (QMS) data compiled for the Mortgage & Finance Association of Australia (MFAA), brokers facilitated 77.3% of all new home lending in the three months to the end of September. The figure is the second-highest on record, just below the 77.6% share recorded in the June 2025 quarter.
The latest result marks a 2.7 percentage point rise on the 74.6% share recorded in the September 2024 quarter and a 5.8 percentage point increase on the 71.5% share reported in the same period in 2023.
In value terms, brokers settled $130.23 billion of new residential loans over the quarter – the highest volume ever recorded for a September period and for any single quarter since the QMS series began. That represents an increase of $27 billion, or 26.1%, compared with the $103.23 billion of lending settled in the September 2024 quarter.
The QMS series, now in its 52nd consecutive quarter, is prepared by data firm Cotality using figures from major aggregators and broker groups. The broker share is calculated as the value of loans settled through these intermediaries as a proportion of Australian Bureau of Statistics housing finance commitments. The MFAA publishes the figures each quarter.
Commenting on the results, the MFAA said the sustained growth in broker share highlights the sector’s entrenched role in the home loan market and the ongoing reliance of borrowers on third-party advice.
“Australian borrowers clearly value the skill, expertise and choice a mortgage broker brings, in what is a complex lending market,” said Anja Pannek (pictured top), chief executive officer at the Mortgage & Finance Association of Australia. “The smartest approach is to work with a broker who can help you navigate your options with confidence and clarity.
“Borrowers and brokers will be watching closely to see what the Reserve Bank decides when the Board meets to set the official cash rate [today]. While market experts are predicting no change to the cash rate, there are still many options available to home loan borrowers. We recommend people proactively reach out to their broker to understand their options.”
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