October a bumper month for brokers
Mortgage brokers have reported very strong trading conditions in October. AFG sold more the A$4 billion of mortgages, making October its biggest month ever, and Aussie sold more than $2 billion of home loans for the first time.AFG's October sales of $4.05 billion were 12 per cent higher than its September sales and were 30 per cent up on October last year.Aussie said its October sales were 22 per cent higher than the same time last year.Aussie's executive chairman, John Symond, said in a media release that he believed the growth would continue. The company has started a recruitment drive to find more brokers.AFG's figures show that growth is coming from property investors and borrowers who are refinancing. The proportion of first-home buyers in the market fell again and is now just 11.1 per cent of AFG's sales.