Actualidad

BanReservas will not increase mortgage rates

Bengoa reports that they will stay the same so as not to affect families in spite of increase by BC

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SD. The Administrator General of the Reserve Bank of the Dominican Republic (BanReservas), Vicente Bengoa Albizu, reported that the financial institution will continue with the same interest rate for mortgage loans for the first half of the year. This comes after a 0.97% increase was reported for the last half of 2011 by the Central Bank (BC).

"We have decided not to apply this increase on mortgage loans, with the idea of stimulating the construction sector," he said. He explained that the decision by the BanReservas will have positive repercussions in the family budgets of those that have mortgage loans, since they will not have to spend more money in order to fulfill their obligations.

The measure that was adopted by the entity will remain in force from the first of January 2012 until the first of August, when it will be reviewed once again.