Peter Costello (Higgins, Liberal Party, Treasurer) Share this | Hansard source

The standard variable mortgage interest rate, which is now 7.8 per cent, compares with the mortgage interest rate of 10.5 per cent when this government was elected. So, if you look at it in comparison with the Australian experience, and if you especially look at it by comparison with the Australian Labor Party’s record, these are substantially lower interest rates than under the previous government and lower than they would be under the Labor Party.

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