Average mortgage interest bills have tripled since Labor took office

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Australia’s average mortgage interest bill has tripled under the weight of 12 rate hikes since Labor came to office in 2022.

Analysis published by the Courier Mail shows families have paid, on average, an extra $26,000 to $50,000 on their mortgages since the last election.

Shadow Treasurer Angus Taylor blames what he describes as “Labor’s home-grown inflation” for the spiralling interest rates.

Labor is keen to remind the Opposition that inflation has come down since it came into office.