Commonwealth Bank Profit Surge Amid Housing Slowdown | Australia News

Commonwealth Bank just smashed records with $11 billion in profit, driven by surging loans and deposits—and a healthy dividend boost. A 7% jump in earnings reflects strong consumer and business borrowing, but signs of cooling are emerging: home loan applications dropped 15% since May, mirroring broader slowdowns amid higher rates and inflation. While housing activity has eased from its peak, the economy’s resilience—low unemployment, steady business activity—suggests a stabilizing trend despite rising costs and supply chain headwinds. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a6177dca2636a76a