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Brokers are increasingly bullish that their businesses will grow over the coming quarter despite the worsening economic outlook.
The improvement was highlighted by an 11.4 per cent jump in the Q1 2009 Mortgage Business Index.
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The Index, which reflects four key indicators in the quarterly Mortgage Business Sentiment Survey – broker expectations for business and volume growth, hiring and marketing spend – rose to 41.4, up from the 37.0 registered in the Q4 2008 Index.
According to Alex Whitlock, publisher of Mortgage Business, the latest Index result highlights the conflicting sentiment across the broking industry.
“The bulk of brokers have clearly become more concerned about the economic outlook. However they are seeing improvements in volumes due to the low interest rate environment and the beefed-up first home owners grant.
“This gives a strong indication that if the economy can hold up in the short term, brokers should continue to see business conditions continue to improve,” he said.
This quarter’s sentiment survey report can be found in full on pages 46 and 47.
