Australians embrace refinancing with a passion
JP Morgan's Australian Mortgage Industry Survey found that the Australian mortgage market growth will be driven by refinancing in 2016.
The proportion of current Australian home loan borrowers intending to apply for refinance is up from ten per cent in early 2015 to 35 per cent in early 2016.
These borrowers are aiming to take advantage of the discounts lenders are offering for new business.
Source: Banking Day