Aussies 'opting to compare home loans through brokers'
Article by Mozo
A growing number of Australians are opting to compare home loans by going to a mortgage broker, a new report has found.
The study conducted by Market Intelligence Strategy Centre noted that in the final quarter of 2010, there was a seven per cent increase in mortgages originating from brokers, the Australian reports.
According to the report: "The better result … came on the back of a generally more active mortgage market in the broker channel."
It noted that the brokerages have "effectively shrugged off the effects of successive rates rises in earlier periods.
As more Aussies head online to compare home loans, the value of the mortgages approved through brokers in the last three months of 2010 rose to $14.18 billion.
The report also indicated that there has been a growing reliance on brokers by regional lenders, with the number of loans beginning in this way rising from 11.2 per cent to 14 per cent.
Now may be a good time to consider purchasing a property in light of figures from RP Data indicating that the value of homes has fallen over the last 12 months.