Mortgage & Finance Association of Australia’s latest data shows that between January and March 2024, 74.1 per cent of all new home loans were written by mortgage brokers. 

This marks the highest mortgage broker market share on record.

“This result underscores the invaluable role mortgage brokers play in the Australian home lending market,” said MFAA CEO Anja Pannek, no doubt relieved to have these numbers to hand after a bruising few weeks of debate championed by the Financial Review over bank unease at galloping broker share.

In the March 2024 quarter mortgage broker share rose 4.5 percentage points compared to the same period in 2023. Compared to the same period in 2020, mortgage broker market share has risen by 22 percentage points.

The value of loans written by mortgage brokers during the March 2024 quarter was $81.5 billion. 

While this was a $12.59 billion decrease compared to the December 2023 quarter, it was a 3.7% year-on-year increase and the second highest value observed in March quarter.

Comparator compiles quarterly broker statistics for the MFAA by calculating the value of loans settled by 15 of the leading brokers and aggregators as a percentage of ABS Housing Finance commitments.