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Brokers wrote almost 77 per cent of all mortgages in the March quarter, MFAA figures show.
A record 76.8 per cent of all new home loans were written by mortgage brokers in the three months to March 2025, according to new data from the Mortgage & Finance Association of Australia (MFAA).
This figure surpassed the previous record of 76.0 per cent set during the December 2024 quarter.
The data, compiled by Comparator by calculating the value of loans settled by the leading brokers and aggregators as a percentage of ABS Housing Finance commitments, showed mortgage broker market share rose by 2.7 percentage points in the March 2025 quarter compared to the same period in 2024. The market share figure is also up from the 74.6 per cent achieved in the September 2024 quarter.
In total, mortgage brokers settled $99.37 billion in new residential home loans during the March 2025 quarter. That represents a 21.97 per cent ($17.90 billion) increase from the $81.47 billion settled in the March 2024 quarter. It is also the highest value of new residential lending recorded for a March quarter.
MFAA CEO Anja Pannek said the record mortgage broker market share was a powerful endorsement of the role mortgage brokers play in helping Australians achieve their financial goals.
“Since the RBA’s interest rate cut in February our members have been reporting increased levels of inquiries and activity across all borrower types – whether it is clients looking to refinance, invest in property or buying their first home,” Pannek said.
“Mortgage brokers are key to ensuring a competitive mortgage market, where consumers have access to choice and consumer protections, including the unrivalled mortgage broker best interests duty (BID).
“These results clearly demonstrate that the broker proposition is highly and increasingly valued by Australian borrowers.
“In our view, every borrower or prospective borrower should see a mortgage broker for the benefits that brokers provide – including personalised support and access to a wide range of lenders and products.
“To that end, the MFAA is very proud to highlight the mortgage broker value proposition through our largest ever national consumer campaign. The campaign encourages all Australians to connect with an MFAA accredited broker, wherever they are in their property journey.”
Commenting on the figures, Mortgage Choice CEO Anthony Waldron said: “I’m not surprised to see that broker market share reached a new record over the March quarter. The Reserve Bank delivering its first rate cut in years gave Australians the confidence to act on their property plans, and brokers were ready to provide personalised support that helped consumers make the right decision for their needs.
“The fact that broker market share is now the highest on record reflects the ongoing value that brokers provide to Australian consumers. Now that we’ve seen another cash rate cut, brokers’ advice and expertise will be essential in navigating an increasingly competitive lending market,“ he finished.
Sam White, the executive chairman of Loan Market Group, commented: “We said 2025 would be the year of the broker and today has backed that with market share still climbing. It’s brilliant to see.
“Ten years ago, borrowers were still tossing up whether to go to the bank or see a broker. Now? The question’s become ‘which broker do I go with?’ That shift says a lot,“ he added.
“People are voting with their feet. They know brokers bring more choice, quicker service, and they stick around to help long after the loan’s settled.
“There’s nothing stopping brokers from hitting 80% and more.”
[Related: Broker market share hits new record: MFAA]
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