Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Refinancing hits record high

Staff Reporter 1 minute read

Refinancing business has soared in July according to figures released by AFG today.

The group’s Mortgage Index showed that 40.8 per cent of new mortgages in July were for refinancing, with most of the activity heading in the direction of the big banks.

Malcolm Watkins, AFG executive director, has called on the government to stimulate “genuine market competition” as concerns grow over a bank dominated mortgage industry.

AFG’s up-swing in refinancing for July corresponded with the findings of a recent Mortgage Business straw poll that asked where the industry expected to generate the bulk of its revenue in the near future.

Asked which residential lending sector would generate the most business over the coming six months, over 40 percent indicated refinancing.

Advertisement
Advertisement

Published: 08-08-08 

Related Articles
Rate cuts to boost broker refinance business

Refinancing hits record high
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
ANZ new still ta ANZ extends business loan terms

The major bank has announced that it will extend the maximum loan...

cash money rolls Credit growth stunted by dive in business lending

Credit growth has waned as a result of a sharp drop-off in busine...

court gavel ta Court rules against bank for ‘unfair’ loan terms

The Federal Court has declared a number of loan contracts entered...

FROM THE WEB