Mortgage rate has been decreased by 1 percentage point

May 11 • Featured, News, Real Estate • 2173 Views • No Comments on Mortgage rate has been decreased by 1 percentage point

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Mortgage460

Last year’s cabinet resolution enabled a mortgage with annual rate of 8+1% for people who are buying apartments for the first time. It has been 11 months and out of MNT847.2 billion worth of requests MNT520.1 billion fulfilled as a replacing loan. Also MNT1 trillion mortgage has been newly issued making it overall 36,905 people to utilize the new rate. Yesterday, at the cabinet meeting, it was resolved that the mortgage rate would be fixed at 7% in mortgage policy guidelines.

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