Every quarter we release our index report which highlights the national lending data.
In our latest report, our CEO David Bailey explained that our company’s brokers had come through a period of record volumes and had delivered outstanding support to their customers.
“The traditionally quieter new year period was marked by strong customer demand with homebuyers navigating the end of ‘cheap money’ as the big banks’ Term Funding Facility came to an end.”
“As a result, fixed rate volumes have plummeted,” he said. “The record low interest rate environment is over, and as lenders evaluate their future funding costs, they have been increasing fixed rates. The percentage of people choosing to fix their home loan has dropped from highs of 38.2% in Q1 22 to now be down to 20%. This is the lowest it has been in two years.”
“This activity saw the market share of the country’s major lenders and their associated brands drop from 53.5% last quarter to 50.8% by the end of March 2022, the lowest level recorded in our time series.
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