Newspaper article The Chronicle (Toowoomba, Australia)

Outlook Positive for Housing Finance

Newspaper article The Chronicle (Toowoomba, Australia)

Outlook Positive for Housing Finance

Article excerpt

LOWER interest rates and growing consumer confidence will help stimulate the home finance market in 2012, says leading mortgage broker Loan Market.

Loan Market corporate spokesperson Paul Smith said the outlook for the coming year was more positive after some challenging economic conditions during 2011.

aThe year ahead looks quite promising with the likelihood of interest rates continuing to head down and lender risk appetites growing,a Mr Smith said.

aThe Melbourne Cup day rate cut by the Reserve Bank of Australia was a turning point for the market and the follow up December reduction will help boost activity over the summer.

aThe economic forecasters expect the RBA may have to cut again early in the New Year, which will be a relief for borrowers.a

Mr Smith said 2011 had been one of the more difficult years for the home finance sector in decades.

aThe natural disasters in Queensland and Victoria at the start of the year created some havoc in the market place as activity stalled while communities in both states focussed on recovering from adversity,a he said. …

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