The mortgage industry has been buoyed by the news last night that an extension of the increased first home owner grant was included in the federal budget.
Wayne Swan announced last night that the increased grant will be extended until September 30, after which it will be phased down to $14,000 for new homes and $10,500 for existing homes until the end of the year.
The extension is welcome news for brokers for whom first home buyers have provided a strong business flow in the past six months.
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