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What is First Home Buyers Surge in Mortgage Market about?

First home buyers are returning to the housing market in greater numbers than since 2009, comprising 16.4% of all home loans processed in October 2011, a 40% increase from October 2010. More buyers opted for fixed rate loans which made up 20.4% of home loans in October, up significantly from 7.9% in July 2011. Non-major lenders have gained market share, now comprising 21.1% of all home loans as their discounted products appeal especially to first home buyers and refinancers.

Author

economicdelusion

Language

EN