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Roger Beaumont: Banking Association CEO on the rise in home loans with a quarter of new loans going to first-home buyers
Published 1 month, 4 weeks ago
Description
Home lending is on the rise – up 17.5% in the six months to December.
The Banking Association's latest report also shows almost a quarter of new loans going to first home buyers.
Chief Executive Roger Beaumont says it's encouraging, because a few years ago they were thought to be locked out of the property market.
He told Mike Hosking that there’s been a relatively flat housing market, combined with a significant reduction in interest rates.
Beaumont says that in 2023, those on a twelve-month mortgage were paying over 7%, but today they’re paying under 5%.
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