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Average mortgage breaks $300,000 mark size of the average new Australian mortgage broke through the $300,000-mark in May, suggesting the latest interest rate rise had little impact on the home loan market, Australian Finance Group (AFG) Ltd says.

Australia’s largest mortgage broker said the average new mortgage rose 11 per cent to $301,000 in May compared with the same period a year ago, with Western Australia and Queensland driving the increase….more

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