CommBank's data reveals that digital applications from first-time homebuyers and borrowers in their 50s have grown by 300% year-on-year. Notably, applications from individuals aged 21 to 30 have surged by 500% during the same period. Borrowers aged 31 to 40 now account for one-third of all online home loan submissions.

This shift aligns with the launch and subsequent expansion of CommBank's Digi Home Loan, the bank's lowest-rate mortgage offering available exclusively through its digital platform. Initially introduced for refinancers in August 2024, the Digi Home Loan was extended to home purchasers in March 2025. As of the latest update, the product offers a variable rate of 5.34% per annum for owner-occupiers with loan-to-value ratios (LVRs) of 60% or less, positioning it competitively within the market.

Marcos Meneguzzi, CommBank's Executive General Manager of Home Buying, highlighted the evolving preferences of customers, stating, "Customers want more flexibility over how they start the process. People are blending digital and personal support to get the experience that suits them best."

The increasing adoption of digital channels is not unique to CommBank. Other major banks are also enhancing their online platforms to improve customer experience and streamline the mortgage application process. This trend reflects a broader industry movement towards digitalisation, driven by consumer demand for convenience and efficiency.

For borrowers, the rise of digital home loan applications offers several advantages:

• **Convenience**: Applications can be completed at any time without the need for in-person appointments.
• **Speed**: Digital processes often result in faster approvals and processing times.
• **Transparency**: Online platforms provide clear information on rates, fees, and terms, aiding in informed decision-making.

However, it's essential for borrowers to remain vigilant. While digital channels offer convenience, they should ensure they fully understand the terms and conditions of any loan product. Comparing different offerings and seeking professional advice can help in making informed financial decisions.

In conclusion, the substantial increase in CommBank's online home loan applications signifies a notable shift in the Australian mortgage landscape. As digital channels continue to gain traction, both lenders and borrowers are adapting to a more streamlined and accessible home loan process.