Mortgage inquiries jumped in June, Veda says
Mortgage inquiries jumped in the June quarter, according to the credit bureau Veda. Inquiries in the June quarter were 6.9 per cent higher than in the June quarter last year. This is the biggest increase since 2010.Veda's general manager of consumer risk, Angus Luffman, said in a statement: "The increase in mortgage inquiries appears to suggest better housing market conditions. Inquiries are a good indicator of home buyer demand."Veda said mortgage inquiries increased in all states, with Western Australia and New South Wales leading the way.Personal loan applications were down. After being 10.3 per cent higher, year-on-year, in the March quarter, they were 6.3 per cent higher in June.Luffman said growth in demand for personal loans has been driven by a surge in car sales. He said this area of demand appeared to be fading.