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Mortgage market on the increase

Mortgage market on the increase

Index figures from RP Data show that the mortgage market is increasing.
<div $$hash="6729-0"><p $$hash="6746-0">New figures have shown that the mortgage market in Australia is on the up.



<p $$hash="6744-0">The latest results from the RP Data Mortgage Index have reached 100.7 points, which is the highest level since August 2009.



<p $$hash="6741-0">RP Data’s index value is worked out by tracking the activity from 90 per cent of the mortgage sector and correlated with data from the Australian Bureau of Statistics on housing finance.



<p $$hash="6739-0">Craig Mackenzie, head of corporate affairs for RP Data, said that these results show that there is a lot of activity in the mortgage market despite the fact that January and February are usually slow months.



<p $$hash="6738-0">Part of the high activity could be owed to the three per cent benchmark rate from the Reserve Bank of Australia, which is the same as it was in August 2009. This has encouraged buyers to take advantage of the low rates and invest in property now.



<p $$hash="6728-0">Posted by Ravin Chatlani

All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

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