GH Bank Urged to Maintain Current Morgage Interest Rates

[snoop1130]

 

BANGKOK (NNT) - As borrowers struggle with living expenses, Finance Minister Arkhom Termpittayapaisith has asked Government Housing Bank (GH Bank) to maintain its current mortgage interest rates this year.

 

According to Arkhom, global interest rates, including those in the United States, are rising to combat soaring inflation.

 

The Monetary Policy Committee of the Bank of Thailand decided on Wednesday (30 Mar) to keep the policy rate at 0.5 percent. The committee also raised its inflation forecast for this year to 4.9 percent from 1.7 percent, owing to increases in energy and food prices caused by supply shocks from the Russia-Ukraine war.

 

The minister also stated that the government has continued to implement measures to reduce the public’s burden. He highlighted signs of the property sector’s recovery from the effects of the Covid-19 pandemic.

 

Keep up to date with all things Thailand - Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

According to Arkhom, the recovery is increasing demand for mortgage loans this year, citing the real estate sector, which is critical to economic growth and accounts for 4.8 percent of the country’s GDP.

 

The finance minister predicted that house prices would rise this year due to an increase in construction material costs. He then advised the real estate sector to adapt to digital technology, environmental friendliness, and the aging society in order to grow their business.

 

Chatchai Sirilai, president of GH Bank, stated that his institution lent 62 billion baht in the first quarter of this year, which he considers to be a high level. This year, the bank expects to lend out more than 270 billion baht.

 

-- © Copyright NNT 2022-04-01

 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[JimHuaHin]

This would be nice, but .... the question is how much longer can Thailand afford to keep interest rates low?  The media reported this week that there had been a Baht 120+ billion outflow of foriegn capital since the beginning of the year; part of the reason for this is the low interest rares in Thailand.

[IAMHERE]

And what is t he current mortgage interest rate ?

 

[MrJ2U]

15 hours ago, snoop1130 said:

digital technology, environmental friendliness, and the aging society

Those unfortunately don't go hand in hand in Thailand.

 

Most Octarians can barely work a TV remote and still burn there garbage/plastics.