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Refinancing is the new black

25/01/2012

Over the last 12 months, big broking group Loan Market Group has seen a 16 per cent spike in refinancing enquiries. And this trend is unlikely to change any time soon, according to Loan Market Group's chief operating officer Dean Rushton.

“With expectations of more rate cuts by the RBA in the first half of 2012, we should see sustained growth in the refinance market, which along with first home buyers will be the strongest sectors this year,” he said.

Mr Rushton said that recent Australian Bureau of Statistics data showed a 17 per cent increase in home owners refinancing year on year to November 2011.

“The key point for the refinance market has always been rates - and the overwhelming sentiment in the market place is that they'll trend downwards in 2012,” he said.

Source: The Adviser



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