Showing posts with label Financing. Show all posts
Showing posts with label Financing. Show all posts

Monday, February 16, 2009

Housing loans witness visible reduction


KARACHI: The issuance of housing loans has witnessed a marked reduction due to high interest rates coupled with steep construction cost, a State Bank report said.

According to a State Bank’s report on Development Financing, the total volume of house financing registered a nominal rise of two percent to Rs73.60 billions till September 2008.

Interest rates soared due to tight monitory policy, leading to reduction in obtainment of housing loans by private sector.