Borrowers flocking to NAB

NAB outpaced other major lenders for home loan sales in February. Westpac and Commonwealth Bank suffered a slide in household deposits according to figures released by the banking regulator, APRA.

NAB's mortgage book grew almost 1 per cent in February – more than fourfold the growth rate chalked up by home lending giants Westpac and CBA.

Growth in ANZ's mortgage book – now comprehensively the smallest of the major four – fell below 0.5 per cent. But ANZ outpaced its key rivals in deposits, clawing in an extra $502 million in household savings, with NAB nearby on $430 million.

Source: Herald Sun