RFi: Owner-occupied lending commitments increase

The amount of owner-occupied lending commitments increased between May and June this year, according to the latest snapshot of the mortgage market from RFi.

According to the RFi monthly market wrap-up, owner-occupied lending commitments rose by 2.1 per cent between May and June, rising from $15,046.1 million to $15,361 million – so if you were on the hunt for a home loan during this period, you were most likely in good company.

While investment housing lending commitments fell during the same period, overall the total amount of commitments (encompassing both owner-occupiers and investors) rose by 1.2 per cent from $23,415 million to $23,689.6 million between May and June.

Refinancing activity also came out strong during this period, with the number of dwellings refinanced increasing by 3.8 per cent from 15,940 to 16,541 (seasonally adjusted).

When it comes to first home buyers (FHB), the numbers appear to be recovering slowly from the major falls that were recorded late last year. RFi reports that the proportion of FHB loans as compared to all housing loans grew by 0.5 percentage points during the period.

While this is still at a relatively low level, over the last three months FHB loans "have been experiencing small gains in share as a proportion of all loans".

If you're searching for your own home loan, consulting the professionals can help ensure you find the right product for your needs.

A mortgage broker has the experience and knowledge necessary to guide you through the process of applying for and securing a home loan, and they can also offer a wider range of products to choose from.

Whether you're a first time buyer, an investor or looking to refinance, the team at AAA Mortgage Solutions can provide relevant advice and assistance.