Spare a thought for the poor brokers out there.
SMH reports Demand for new home loans fell to a nine-year low in April as rising interest rates dampen enthusiasm for housing.
see article and nice graph at http://www.smh.com.au/business/property/home-loans-drop-to-9year-low-20100609-xuxy.html
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Yeah not good. Not many first home buyers in the market at the moment.
Yes thank god but there are a million investors.
Personally i cant keep up with the demand and hence dont get chance to post as often as I would like.
I agree though if you relied on FTB for your business i think you would be going hungry.
Richard Taylor | Australia's leading private lender
I might take up taxi driving, while delivering pizza's and sell mortgages out of the boot……
I concur with Richard, I have had two very big months.
Just upsell, 'would you like a loan with that?'
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Definately seeing a drastic decrease across the board. A lot of the mortgage brokers i speak to feel the same way. There are a lucky few at the moment, but banks are becoming more restrictive. But i think thinks will look up later in the year.
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