Report shows Big Four banks are scoring off household mortgages

by David Richardson in Herald Sun
Originally published in Herald Sun on May 25, 2012

THE big banks are creaming off almost $100,000 in profit from struggling home owners in our major capital cities, data shows. The banks’ profit levels on the average 25-year mortgage more than doubled in the past 12 years as property prices rose. The numbers raise questions about claims from the banks that higher funding costs are crimping profits and preventing them from passing on the full benefits of Reserve Bank rate cuts.

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