Latest MFAA data highlights dominant role brokers play in home lending sector
Mortgage brokers claimed a record 77.6% share of the home lending market in the June quarter, per the latest data supplied by the Mortgage and Finance Association of Australia (MFAA).
It marks a 0.8-percentage-point increase from the previous quarter.
The value of new home loans written by mortgage brokers reached $121.58 billion in the quarter – the highest for any June quarter on record. It marks a more-than 21% year-on-year rise in broker-originated home lending volumes.
MFAA chief executive Anja Pannek (pictured) said: "This result continues to reflect Australians’ clear choice to work with their mortgage broker, as they navigate their home financing journey.
"Our members have reported increased inquiries and activity levels across all segments of the market.
“We’ve also seen exceptionally strong consumer engagement with our recent campaign promoting the value of mortgage brokers. The campaign reached an estimated 3.9 million people, with more than 324,000 consumers actively searching for an MFAA Accredited Broker via our Find a Broker website."
The MFAA has commissioned Cotality to compile these broking industry statistics for 51 straight quarters, starting from 2013. Market share is derived from calculating the value of loans settled by the leading aggregators as a percentage of housing finance commitments published by the Australian Bureau of Statistics.
