AFG reports most home loan sales in May in 3 years (charts)
"if you are getting blog via email click above heading for missing pictures and video"
Pretty interesting data out yesterday from Australia's largest mortgage broker, representing 10% of the overall market. AFG recorded their biggest ever month in May with more than $3 billion of loans written in total. In the charts below you can also see that the share of first time buyers and property investors is on the increase while refinancing activity looks to have declined...Combined with the price action in Sydney from mid May onwards there are some partial data here to suggest the market is responding to the rate cuts.
AFG, Australia's largest mortgage broker, processed more home loans in May ... shows that the company processed over $3 billion in loans during May. ... 10% of the total mortgage market (Source ABS and AFG statistics).