Mortgage and Refinancing Statistics Australia 2026

The Australian mortgage market at a glance

Total housing credit grew 7.5% in the year to May 2026 (RBA). It splits into $1.75 trillion of owner occupier lending and $0.86 trillion of investor lending. New commitments in the March quarter 2026 were $61.4 billion to owner occupiers and $41.5 billion to investors (ABS).

Refinancing statistics: the switching market

External refinancing is where a borrower moves to a different lender. In the March quarter 2026 it ran at 66,617 owner occupier loans ($42.9 billion) and 37,181 investor loans ($25.3 billion). Another 64,000 borrowers refinanced internally with their existing lender (ABS).

The savings on the table are real. A June 2026 Canstar analysis looked at a borrower with a $600,000 balance at 6.98%. Refinancing under 6% would save them at least $10,713 over two years, even after switching costs. Repayments would drop $371 a month. Yet the same analysis found only 6% of mortgage holders switched lenders in the past year. 52% have never switched at all.

For a broker, that gap is the business. A large pool of borrowers is paying a loyalty tax, and more than one hundred thousand of them act each quarter. The brokers who win them are the ones in front of the borrower when the decision happens. That is why we deliver refinance leads in real time.

Mortgage broker statistics

Brokers settled $124.88 billion in new home loans in the March 2026 quarter, according to the MFAA. That is up $25.51 billion on the same quarter last year. Broker share has climbed from 55.3% in March 2018 to 81.0% in March 2026.

The flip side: broker numbers are at record highs too. The MFAA's Industry Intelligence Service counted 22,265 brokers as at September 2024, up 12% in a year. Four in five loans now go through a broker, but there have never been more brokers competing for them. Client acquisition, not lender access, is the constraint. We cover the playbook in how mortgage brokers get more clients.

Interest rates in 2026

The RBA cash rate sits at 4.35% as at July 2026. The RBA had cut to 3.60% by August 2025. It then lifted the rate three times, in February, March and May 2026, and held it steady at the June meeting (RBA cash rate decisions).

• New owner occupier variable loans averaged 6.23% p.a. in May 2026 (RBA housing lending rates).
• New investor variable loans are averaging around 6.4% (Cotality Home Value Index, July 2026).
• Rising rates put repayment pressure on households. Historically, that drives refinancing enquiry as borrowers shop for a better rate.

Average loan sizes by state

Queensland's average new loan has overtaken Victoria's. The Brisbane market is the reason: dwelling values there rose 17.4% in the year to June 2026 (Cotality). Larger loans mean larger trail books per client. That changes what a broker can afford to pay to acquire one.

Arrears and mortgage stress

Despite higher rates, arrears remain low. Non performing residential mortgages were 0.99% of credit outstanding in the December 2025 quarter, down from 1.05% a year earlier. Loans 30 to 89 days past due fell to 0.47% (APRA quarterly property exposure statistics).

The RBA's March 2026 Financial Stability Review looked at housing loans more than three months in arrears. It found the share "has declined over the past year, returning to around pre-pandemic levels" (RBA FSR).

What these numbers mean if you sell home loans

• The refinance pool is deep. 103,798 external switches a quarter, and half of all mortgage holders have never refinanced. The demand exists; the contest is who reaches the borrower first.
• Broker share is at a record, and so is broker supply. 81% of loans flow through 22,000+ brokers. Standing out requires a client acquisition engine, not just accreditation.
• Each client is worth more. With average new loans at $735,000, upfront and trail commission per settled client justify a serious, measured cost per acquisition.

PrimeLeads supplies exclusive, SMS verified mortgage and refinance leads on a pay per lead basis. We also offer appointment setting if you want qualified borrowers booked straight into your calendar. For the full acquisition playbook, read how mortgage brokers get more clients.