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Mortgage brokers have enjoyed the biggest quarter on record, with broker loan settlements soaring 18 per cent to reach $18.3 billion.
According to research by the Market Intelligence Strategy Centre (MISC), the withdrawal of the first home owners grant and low interest rates fuelled the activity during the June quarter.
However, MISC highlighted that the result could have been even higher had it not been for the delay in settlements that has caused some deals to spill over into the next quarter.
Mortgage Choice senior corporate affairs manager Kristy Sheppard told Mortgage Business that the June quarter was also the franchise brokerage’s most successful so far this year.
“Our volumes have improved over each consecutive month throughout 2009,” Ms Sheppard said.
“In fact our June quarter is the best quarter we have had since December 2007 and the preliminary indications are that September will be just as good if not better.”
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