Banks charge variable home loan borrowers an extra $18 BILLION!

19th of October 2012 | by RateCity Staff

Variable borrowers paid extra $18.1 BILLION over past 5 years: RateCity. Difference between major 4 banks’ average standard variable rate and cash rate almost doubled. Typical $300,000 mortgage borrower paid extra $11,687 over past 5 years. Borrowers urged to take action and switch as lenders withholding rate cuts “new norm”.

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