More Australians turn to mortgage brokers for expert home loan guidance

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The mortgage broker market share in Australia continues to ascend, solidifying mortgage brokers as the premier choice for borrowers seeking guidance in their home financing journeys.

Recent data released by the research group Comparator, commissioned by the Mortgage and Finance Association of Australia (MFAA), reveals a remarkable statistic: mortgage brokers facilitated 76.0% of all new residential home loans during the December 2024 quarter. This marks the highest market share recorded to date, particularly impressive for a December quarter.

This significant milestone indicates that an increasing number of Australians are placing their trust in the expertise and tailored guidance of their mortgage brokers, reaping the rewards of the choice and competitive dynamics that brokers introduce to the lending landscape. The 76.0% market share for December 2024 reflects a substantial increase of 4.2% compared to the 71.8% share recorded in December 2023 and a notable rise of 6.7% from the December 2022 quarter. Just a few months prior, in the September 2024 quarter, broker market share stood at 74.6%.

The total value of new residential home loans settled by mortgage brokers in the December 2024 quarter reached an impressive $115.06 billion, representing the highest value ever reported within a single quarter. This figure signifies a robust 22% increase from the $94.06 billion settled in December 2023, highlighting the brokers' pivotal role in the evolving mortgage landscape.

MFAA CEO Anja Pannek acknowledged the extraordinary market share achieved during a period characterized by elevated interest rates, which prevailed until the Reserve Bank of Australia's official cash rate reduction in February 2025.

“In these uncertain economic times, we’ve witnessed even more Australians turning to their mortgage brokers for assistance,” Ms. Pannek stated. “This trend can be attributed to various factors, including the desire to understand the optimal timing and methods for refinancing or exploring better rates on existing mortgages.”

Brokers are invaluable in helping clients comprehend their financial circumstances, preparing them for lending approval, and navigating the complexities of government schemes aimed at fulfilling the dream of homeownership. The extensive support brokers offer is both substantial and impactful.

The recently published 2025 Value of Mortgage and Finance Broking Report by Deloitte further delves into the significant contributions that brokers make to the financial wellbeing of their clients.

Notably, the report reveals that a remarkable 72% of broker business originates from repeat clients and referrals, underscoring the trust and satisfaction brokers cultivate in their relationships.

Ms. Pannek highlighted the positive impact of the mortgage broker best interests duty (BID), which has enhanced consumer confidence by assuring borrowers that brokers will consistently prioritize their clients' best interests when recommending solutions.

“The research from Deloitte has shown how the introduction of BID has fostered greater consumer trust in the mortgage broker sector,” Ms. Pannek remarked. “The Value of Mortgage and Finance Broking Report demonstrated that brokers have wholeheartedly embraced BID, resulting in increased trust within the industry.”

Comparator has meticulously compiled quarterly mortgage broker statistics for the MFAA for an impressive 49 consecutive quarters since 2013, calculating the value of loans settled by leading aggregators as a percentage of Australian Bureau of Statistics (ABS) Housing Finance commitments. The MFAA releases these insightful statistics each quarter, emphasizing that any public utilization of this data must credit the MFAA as the rightful owner.

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