Low rates have made it cheaper to buy than rent says NAB boss Ross McEwan – NEWS.com.au

National Australia Bank says bargain-basement mortgage rates have made it cheaper to buy a home rather than rent. The nation’s largest business bank has revealed surging house prices are being felt across the country as more homebuyers look to lock in rates at historical lows.
NAB chief executive Ross McEwan said 16 per cent of lending was coming from first-home buyers capitalising on rates and government schemes to gain access to the property market.
He also flagged it had become cheaper to buy…

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