Government housing loans board lowers interest rates

DOMINICA:  The Government Housing Loans Board continues to make home ownership much easier for public officers.

In an interview with GIS news on Friday April 15^th, Chairman of the Board, Felix Thomas, announced a further reduction in mortgage rates.
“We have been successful in contracting new loans at a cheaper rate, in the region of $34 million dollars. Some of that money $23 million dollars will go towards refinancing loans that public officers already have with us because we are going to reduce the interest rate across the board. We are hoping that about $11 million dollars would go into new construction.”
Thomas anticipates that the new rates will have a positive impact on a wide cross section of Dominica’s economy.