TMM - News

Interest payments on mortgages soar

Friday 27th of October 2023

The Reserve Bank’s latest Residential Mortgage Loan Reconciliation shows borrowers will, in this calendar year, probably pay their banks more than $17 billion in mortgage interest.

In the Sept quarter they paid $4,627b – a new record – and a big rise from $3,549b in the Dec quarter last year and  double the $2,323b in the Sept quarter,b2021. The last big quarter f...

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