• July 8, 2021

Australian banks to raise mortgage rates on average 2.5%

The Federal Government will increase the cost of mortgage loans by up to 2.4 per cent, but banks are expected to remain on the hook for up to three years more, with the average interest rate rising from 2.7 per cent to 2,632 per cent.The move is expected to save banks an estimated $2.5 billion…

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