Research / Media release

Mortgage broker market share reaches new December quarter record

Mortgage brokers facilitated 69.3% of all new residential home loans between October and December 2022, according to the latest data released by research group Comparator, a CoreLogic business, and commissioned by the MFAA.

The result is the highest mortgage broker market share for a December quarter on record. It represents a 2.8 percentage point increase compared to the 66.5% achieved in the same quarter in 2021 and a 9.9 percentage point increase on the 59.4% from the December 2020 quarter.

The value of home loans settled by mortgage brokers during the period was $89.58 billion, a $6.07 billion, or 6.34%, decline in the value of new lending when compared year-on-year to the $95.65 billion settled in December 2021.

MFAA CEO Anja Pannek commented that the results showed that Australian homebuyers continue to demonstrate their confidence and trust in mortgage brokers, particularly in the current environment of rising interest rates and cost of living pressures.

“With many Australians looking for guidance as their fixed rate mortgage reverts to a higher variable rate this year, mortgage brokers offer an invaluable service to their clients. They provide their clients with options based on their individual needs – whether that be staying with their existing lender or accessing competitive offers in market if the client chooses to refinance,” said Ms Pannek.

“The reforms implemented over the past two years including the unrivalled Best Interests Duty, have served to increase the trust Australian homebuyers have in mortgage brokers, whether they be purchasing their first home, refinancing their existing loan or buying an investment property.”

Comparator compiles quarterly broker statistics for the MFAA by calculating the value of loans settled by 18 of the leading brokers and aggregators as a percentage of ABS Housing Finance commitments. The MFAA releases these statistics each quarter. This data can only be used publicly by referencing the MFAA as the owner of the data and its use in communications.

You may also like

10.04.2024 Media release, Research

The home loan discharge process must be improved – MFAA

The mortgage and finance broking industry’s peak association has made six recommendations to improve the home loan discharge process in a new whitepap...

24.07.2024 Research, Media release

MFAA discussion paper sets out guidance for the use of AI in broking

The paper, titled Embracing the future: Towards the safe and ethical use of AI for the mortgage broking industry, was informed by research carried out...

09.09.2024 Media release, Research

Mortgage broker market share remains strong in June quarter

During the June 2024 quarter, mortgage brokers wrote 73.7% of all new home loans, the second highest result on record. It is also a 6.5 percentage poi...