Yesterday (15th March), the commercial banks started to offering the new 5% mortgage rate. The State Bank has predicted that the mortgages of 1,894 families, valuing MNT 67.3 billions, which meet the new requirements, can be transferred to the 5% mortgage. Yesterday alone, MNT 4,272,000 worth of mortgages from 104 borrowers was transferred to the 5% rate.
Also, yesterday, the commercial banks decided to provide the 5% mortgage rate to 81 borrowers who are planning to buy apartments in the approved regions – this representing MNT 2.4 billion. According to information from the Bank of Mongolia, the commercial banks have decided to provide 5% mortgage (valuing MNT 43.1 billion) to 698 people.