Australians are increasingly turning to mortgage brokers for financial guidance, driving broker market share to new heights, according to the latest insights from the Mortgage & Finance Association of Australia (MFAA).
The broking non-profit group revealed Monday that mortgage brokers settled approximately 76.8% of all new residential home loans during the March 2025 quarter, up slightly from the December 2024 quarter at approximately 76%.
"Mortgage brokers are key to ensuring a competitive mortgage market, where consumers have access to choice and consumer protections, including the unrivalled mortgage broker best interests duty (BID)," said Anja Pannek, chief executive officer of the MFAA. “These results clearly demonstrate that the broker proposition is highly and increasingly valued by Australian borrowers."
Australian mortgage brokers settled $99.37 billion in new residential home loans during the most recent quarter, up from $81.47 billion a year ago. That equals an increase of nearly 22%. The numbers also represent the highest value of new residential loans recorded for a March quarter.
The rise in broker market share is a key industry indicator, reflecting shifting consumer preferences, increased trust in brokers’ expertise and growing complexity in an increasingly competitive lending landscape. For the mortgage and finance sector, it signals where business is flowing and highlights the evolving role brokers play in shaping competitive dynamics between lenders.
And in a turbulent housing environment, one marked by two interest rate cuts from the Reserve Bank of Australia (RBA), surging property prices, a deepening cost-of-living crisis and global uncertainty — including renewed tariff threats from the Trump Administration — mortgage brokers have emerged as essential partners for Australian borrowers.
"Since the RBA interest rate cut in February, our members have been reporting increased levels of inquiries and activity across all borrower types – whether it is clients looking to refinance, invest in property or buying their first home,” Pannek said.
In addition, offering expert advice, access to a broad panel of lenders and tailored loan solutions, brokers help clients cut through complexity and secure competitive deals. Often at no cost to the borrower, they simplify the process, manage paperwork and provide ongoing support, making them the go-to choice for a growing majority of Australians.
"This increase is not just good for industry, but great for consumers who are getting expert advice and assessment from brokers who act in their best interests," Blake Buchanan, general manager at aggregator group Specialist Finance Group, told Australian Broker.
"Share is on the way to where we think it should be at 80% within the next 18 months," he added.
Mortgage Choice Chief Executive Officer Anthony Waldron added: "I’m not surprised to see that broker market share reached a new record. The Reserve Bank delivering its first rate cut in years gave Australians the confidence to act on their property plans and brokers were ready to provide personalised support that helped consumers make the right decision for their needs.
“The fact that broker market share is now the highest on record reflects the ongoing value that brokers provide to Australian consumers," Waldron continued. "Now that we’ve seen another cash rate cut, brokers’ advice and expertise will be essential in navigating an increasingly competitive lending market.”
The results were compiled by Cotality’s Comparator (the group formerly known as CoreLogic), which was commissioned by the MFAA. The Comparator has gathered quarterly mortgage broker statistics for the MFAA for 50 consecutive quarters, since 2013.