AFG processes record volume of home loans

Bosses at Australian Finance Group (AFG) have revealed the organisation processed a record volume of mortgages in October.

The company oversaw the completion of $3.1 billion worth of home loans during the month – which is the best performance ever seen in any October and the highest monthly uptake since March 2009.

This represented a 14.6 per cent rise on the previous month, although refinancing was down by 34.8 per cent, the company announced.

It seems Aussies have been taking advantage of recent interest rate cuts and official figures published by the Australian Bureau of Statistics highlighted a 0.9 per cent upturn in mortgage demand in September when compared to the previous month.

Mark Hewitt, general manager of sales and operations at AFG said the clamour for mortgages was higher in certain parts of Australia than others.

"New South Wales is by far the most popular state for investors, while Western Australia is leading the way for first home buyers," he remarked.

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