Mortgage demand climbs

After 1 per cent rate cut there is a surge in demand for home loans. Some mortgage websites are running hot with 200 per cent increase in inquiries. According to mortgage comparison website www.helpmechoose.com.au first homebuyers now account for 40 per cent of those inquiries but interest is growing across the board. The official cash rate is now at 3.25% and it is the lowest level since early 1964.