Market notes

Changing lender accounted for about one dollar in four of June’s new commitments.

The Reserve Bank recorded $8.445 billion of new residential mortgage commitments in June 2026. Of that, $2.298 billion was classified as a change in loan provider—about 27%. Property purchases accounted for $4.724 billion and top-ups for $992 million.

What that may mean generally: refinancing is a material part of current lending activity, but the aggregate figure does not show whether an individual household saved money. A useful comparison still needs the remaining fixed term, break costs, cashback conditions, fees, loan structure, and the borrower’s wider circumstances.