Higher rates deter borrowers from refinancing

[{"selector":"#anim-e230c0f7-32aa-4ba6-a195-4636674cb611 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more THE surge in refinancing driven by low-interest fixed-rate loans has wound down in FY24, as new loan volumes rose by 6.0%...

[{"selector":"#anim-6c157274-1629-4859-b25a-615db28e8b03 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more According to PEXA Group’s latest Mortgage Insights Report, refinancing activity has dropped off from its peak with the market now adjusted to the high volume of fixed-rate fixed-term loans...

[{"selector":"#anim-42423479-348e-41e9-9f8b-d02bbb02ed75 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more Refinancing activity fell by 11.9% over FY24, with 396,653 refinances completed for loans valued at $211.2 billion, or a drop of 0.8% in aggregate value...

[{"selector":"#anim-aac5bc8a-2aba-422f-874f-6848f99fdd4b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more Victoria recorded the highest volume of refinances over the quarter at 125,082, followed by NSW at 120,679...

[{"selector":"#anim-f7271dfa-9cb3-49a7-b49f-1bd25f11c7f3 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more Victoria saw the greatest demand for property loans with 136,461 new loans over the year, even as both Queensland and New South Wales saw more transactions...

[{"selector":"#anim-72babbad-9d4a-412d-a99a-0bddc850b3bb [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more NSW followed Victoria, recording 129,729 new loans over the quarter, just pulling in ahead of Queensland at 129,719...

[{"selector":"#anim-31164fee-565a-4164-a116-29406def41e7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more Rising interest rates and stagnant incomes posed challenges for many home buyers and borrowers in the first half of FY24. But as we moved through the year, resilience in the...

[{"selector":"#anim-52a1e209-fb80-4375-85d1-9e4fdf421909 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more When we look at the differences in loan activity across locations, FY24 saw an unusually high volume of new loans in Victoria. Anecdotal evidence suggests this may be related to...

[{"selector":"#anim-11bf5e49-f139-4f1d-91a5-c5894f582f3a [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more New loans saw a surge of 25.1% over the June 2024 quarter, with 141,872 new loans, concentrated largely in NSW and Victoria with increases of 35.8% and...

[{"selector":"#anim-66ccce1b-a3d3-4e98-a2bd-0392bcfc9b37 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.932693372218877e-15%, 2.5074219883873775e-7%) scale(0.8264462809917356)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more This came after a weak March quarter, due to earlier than usual Easter holidays delaying settlements to April. With this April’s new loans volumes up 32.3% on...

[{"selector":"#anim-c3806c1b-e91f-400e-8cc6-b83b7e8971a0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(3.5527136788005e-15%, 2.528317205966838e-7%) scale(0.8333333333333334)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Read more Looking ahead, FY25 is expected to see improvements in household confidence, consumption and investment, supported by income tax cuts, receding inflation, and real income...

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Higher rates deter borrowers from refinancing

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