Housing loans continue to be high in Nicaragua

Banks are seeking funds to ensure financing for the housing sector with better interest rates.

Tuesday, February 3, 2009

EL NUEVO DIARIO.com.ni reports on its website: "Luis Rivas, General Manager of the Production Bank (Banpro), said that the funds to finance home purchases are generally intermediate, because there are no long term deposits in the country, and interest rates offered to the final consumer depend on those set by the providers of the funds.

He added that the banks are seeking more favorable funds to transfer to consumers. He indicated that Banpro managed to get some cheaper funds and that is why they have managed to lower interest rates, commissions and premiums."

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