HONG KONG (MarketWatch) -- Australian home-loan approvals fell for a fifth straight month in June, stirring concern that the housing market is being squeezed by a deepening credit crunch and adding to the case for an interest-rate cut as early the autumn. This is also perhaps why mortgage brokers charge high for closing fees. A percentage of the closing fee you pay on a mortgage goes to the mortgage broker's personal funds. This, along with a few more fees, stands as their salary.
