Drop in Iceland mortgage rates

reykjavik-houseIceland’s Housing Finance Fund (Íbúðalánasjóður) today lowered its interest rates. The general mortgage rate has now fallen to 4.7 percent from 4.9 percent. Interest on mortgages without prepayment clause is now 5.2 percent instead of 5.4.

Although the banks have offered mortgages for several years, the government-owned Housing Finance Fund remains the country’s biggest mortgage provider and usually offers the lowest interest rates.

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