Costa Rica: $176.9 Million for Housing
Banco de Costa Rica (BCR) has earmarked $176.9 million (¢100,000 million) in loans for housing in 2009.
Friday, February 27, 2009
The reporter, Mercedes Agüero, wrote in Nacion.com: "This amount will allow 6,000 families to build or buy a home. The interest rate for these loans is the equivalent of the base rate plus 3 points."
Because of fluctuations in the exchange and interest rates there is more reluctance to provide financing.
The Bank of Costa Rica (BCR) lowered interest rates for loans for housing and small and medium businesses by two percentage points.
The Panamanian government has extended for another five years preferential mortgage loans previously registered with the Department of Revenue.
Competition, interbank interest rates and a stable exchange rate are the reasons for the growth of the housing loan portfolio in the first quarter of 2016.
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