Mortgage Brokers Now Handle 81.6% of All Home Loans

Australia's broker channel hit a fresh record in June 2026, arranging more than four in every five new home loans written across the country.

Mortgage brokers in Australia have reached a threshold that seemed unthinkable a decade ago: handling more than four in every five new home loans written across the country. The Adviser reports that the broker channel settled 81.6% of all new residential home loans in the June 2026 quarter, up from 81% in March and 77.6% a year earlier, based on Cotality data commissioned by the Mortgage & Finance Association of Australia (MFAA).

What the Numbers Actually Mean

The dollar volume behind that percentage is striking: brokers facilitated $139.08 billion in new home lending during the June quarter alone — an increase of $17.49 billion on the same period the previous year, and the largest volume recorded for a June quarter. Broker market share has also risen by 27.7 percentage points over the eight years of MFAA survey data, climbing from 53.9% in June 2018 to 81.6% in June 2026. This was the 55th consecutive quarterly market-share publication since the series began in 2013, and the trend hasn't reversed once.

MFAA chief executive Anja Pannek noted the significance of where Australia now stands globally. "Australia is one of only three countries globally, alongside the United Kingdom and the Netherlands, where mortgage brokers facilitate more than 80% of mortgage lending," Pannek said. She also attributed the continued growth to something more fundamental: "This result is a clear sign of how Australians now choose to access home lending and the value they see in having someone in their corner."

What makes the June result particularly striking is the backdrop against which it was achieved. Overall mortgage demand was 16.4% lower year on year in July, following annual falls of 6.6% in May and 18.8% in June. First home buyer demand softened more sharply, declining 19.1% annually in July after falling 20.9% in June. Major banks including ANZ, Westpac, CBA and NAB all reported significantly softer mortgage application flows.

In short: fewer people were applying for home loans overall, yet the proportion choosing to go through a broker was higher than ever. When conditions tighten and the stakes are higher, borrowers are increasingly seeking out someone with the experience and lender relationships to navigate the market on their behalf.

Why the Major Banks Haven't Slowed the Trend

The record broker market share arrives despite some major lenders aggressively building their own direct lending channels. National Australia Bank (NAB) grew its share of new lending through proprietary channels to 50.9% in the three months ending 30 June, up from 50% in March, having hired roughly 270 new proprietary bankers during the 2025 financial year. Westpac's proprietary lending reached 34% in the six months ending 31 March, up from 32% a year earlier. Commonwealth Bank of Australia (CBA) has also shifted focus toward direct lending, noting publicly that broker-originated loans are 20% to 30% less profitable than those written through its own channels.

Yet the aggregate broker share climbed regardless. Part of the reason is that other lenders are leaning the other way. At Macquarie Bank, more than 95% of new mortgage originations in the past year were sourced via the broker channel. ANZ's proprietary lending network slipped in the first half of 2026.

Pannek put it plainly: "What we've seen is that consumers realise the value of working with a broker because they've got access to a broad range of lenders that you wouldn't get otherwise. And the broker is going to bat for you; once you're their client, they will work on your behalf to even negotiate a rate with your existing lender without you needing to get involved."

That last point is one many borrowers miss. A broker can often negotiate a better rate with your current lender — without you refinancing anywhere — simply because they have an established relationship and can make a credible case on your behalf.

What This Means for Borrowers Right Now

If you're in the market to buy, refinance or invest, the data makes a practical case for using a broker rather than going direct. Brokers have access to products from a broad panel of lenders — not just whichever bank branch happens to be closest — and are legally required under the Best Interests Duty to act in your favour, not the lender's.

For anyone who hasn't reviewed their mortgage in the last 12 months, it's worth checking whether what you're currently paying is still competitive against what the market is offering. Our cheapest home loan listings are updated regularly across both fixed and variable products, so you can get a sense of where rates are sitting right now.

If you're working out what you can realistically borrow in the current rate environment, the borrowing power calculator gives you a clear starting point based on current lending criteria. And if you want to model what different rate scenarios mean for your monthly budget, the repayment calculator lets you run those numbers quickly.

The record market share figure is ultimately a measure of trust. Australians are choosing brokers at the highest rate ever recorded — not because market conditions force it, but because the value of having a qualified expert in your corner has become increasingly well understood across the community.

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