Mortgage brokers optimistic over second quarter growth

Mortgage brokers expect to conduct 6.7 per cent more business in the second quarter of 2010 than in the first three months of the year, it has been reported.

According to Paragon Mortgages' Financial Adviser Confidence Tracker, brokers have now predicted increased business levels for five consecutive quarters.

However, the rate of growth forecast dropped from the January to March quarter, when brokers predicted a 7.1 per cent increase.

Paragon Mortgages' managing director John Heron said industry professionals had endured a tough time since the start of the credit crunch.

However, he noted that confidence had returned in recent months, particularly since the latter half of 2009.

"This return of confidence has coincided with increased activity in the housing market, although the market is still very fragile," Mr Heron said.

"The levels of mortgage business will be influenced by the number of mortgage products available and we have seen a large increase since the start of 2010."

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2010-05-10 13:37:13 © Moneyextra.com