Australia's Big Four banks move to bypass mortgage brokers as profits squeezed
By Scott Murdoch and Roushni Nair SYDNEY (Reuters) -Australia's biggest banks are ramping up efforts to reduce their reliance on mortgage brokers in the nation's $1.6 trillion home loan market, looking to offset pressure on profit margins from lower interest rates, higher costs and intensifying competition. Mortgage brokers account for almost 80% of new home loans in Australia, up from about 50%
By Scott Murdoch and Roushni Nair SYDNEY (Reuters) -Australia's biggest banks are ramping up efforts to reduce their reliance on mortgage brokers in the nation's $1.6 trillion home loan market, looking to offset pressure on profit margins from lower interest rates, higher costs and intensifying competition. Mortgage brokers account for almost 80% of new home loans in Australia, up from about 50%
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