Prime Minister Andrew Holness laid out a wraft of rate reductions across the board for National Housing Trust (NHT) beneficiaries, this afternoon in his contribution to the Budget debate.
He said that in keeping with market trends of declining interest rates, the NHT will reduce mortgage rates for everybody by 1%.
The new changes come for persons who are within other bands which will see reduction in payment per month from 3,000$ to 10,000$ respectively.
Also, there will be an increase in the interest rate band to allow more persons to access loans and grants.
The ceiling of the lowest interest rate band would increased to $ 15,000 per week from the current $12,000.