The number of mortgages processed last month was 40 per cent higher than in April 2012, according to mortgage broker AFG.
The company’s monthly Mortgage Index shows that $3.2 billion in home loans were processed in April, compared to $2.2 billion a year ago.
Fixed rate loans, already at an all-time high of 29.6 per cent in March, rose to a new record of 30.7 per cent of all home loan types in April, as more borrowers choose to lock in historically low rates.
Non-major lenders managed to claw back some market share, rising from 20.7 per cent in March to 21.1 per cent in April.