The recent increase in
Bank of Jamaica (BOJ) interest rates is having a domino effect on the financial
sector.
Effective on Monday, Jamaica National Building Society (JNBS) will adjust interest rates on new mortgages to 13.5 per cent for members and 13.75 per cent for non-members.
The adjustments represent a less than one per cent increase.
The decision follows a 2.5 per cent hike in interest rates on open market instruments by the Central Bank during the past four weeks.
This has forced mortgage institutions to review their lending portfolios.
Effective on Monday, Jamaica National Building Society (JNBS) will adjust interest rates on new mortgages to 13.5 per cent for members and 13.75 per cent for non-members.
The adjustments represent a less than one per cent increase.
The decision follows a 2.5 per cent hike in interest rates on open market instruments by the Central Bank during the past four weeks.
This has forced mortgage institutions to review their lending portfolios.
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