Interest Rates for Housing Loans in Morocco At All Times Low in May
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Loading... - Logan Jacinto
- 26 Jul 2022
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Interest rates on housing loans were last month at an all-time low of an average of 4.10% before taxes, according to a new report from an online loan simulator.
The drop in interest rates on housing loans can be linked to a multitude of factors, including the international economic situation as well as the state of the national real estate market, the report found.
The low-interest rates are also likely the result of the central bank’s decision to maintain interest rates unchanged, allowing for banks to keep interest rates of conventional loans unchanged at a competitive rate.
In some cases, interest rates on housing loans have gotten as low as 3.9% before taxes, according to data from the loan simulator reported in converging news reports.
The competitive low-interest rates would allow many buyers to enter the real estate market and could be explained by the central bank’s strategy to keep interest rates low so as to encourage spending, compensate for the rise in real estate prices, and encourage competition between banks. Read More...
