NSW Fair Trading last May established a dedicated underquoting team to address “rising concerns” about the practice. This practice is harming the income of Mortgage Brokers. Underquoting by real estate agents is becoming more frequent across Australia as a lack of regulation and weak enforcement frustrates those in the property market and forces up prices,… Read More »
The mortgage industry in Australia is undergoing a significant transformation driven by the rapid advancements in artificial intelligence (AI) technology. While mortgage brokers have traditionally played a crucial role in the lending process, there is a growing consensus that AI will eventually replace their services, and this is a positive development for both borrowers and… Read More »
The average mortgage size in Australia has soared to a record high, fueled by surging prices and rising interest rates. According to recent data released by the Australian Bureau of Statistics, the national average new mortgage size hit $624,383 in December 2023, marking an all-time high. Across states and territories, Queensland, South Australia, and Western… Read More »