Nick Minchin (SA, Liberal Party, Minister for Finance and Administration) Share this | Hansard source

What I am aware of is that mortgage interest rates at the moment are around 2.7 percentage points lower than when we came to office and inherited the train wreck that the Labor Party created with this economy. Those lower mortgage interest rates are saving households around $495 a month in interest payments. It was this government that introduced the First Home Owners Scheme in 2000 to assist first home buyers. Over 830,000 first home buyers have now taken part in the scheme. What Australians know is that, whatever the level of interest rates, they will always be lower under our government than they ever would be under Labor.