Economy, Business And Markets

Mortgage Scheme Becomes Attractive

Mortgage Scheme Becomes AttractiveMortgage Scheme Becomes Attractive

A day after the interest rates of Housing Savings Account were lowered to single figures, a record number of applicants registered with the scheme, says Bank Maskan’s director for planning affairs.”In just one day after the Housing Savings Account interest rates were lowered to 9.5% for non-distressed urban areas and 8% for distressed areas [September 11], a record number of 910 people opened accounts,” Mohammad Hassan Moradi was quoted as saying by”This is while at best, the number of accounts opened in one day for the scheme was 570 and the average was 384.” The official also said that from the time the scheme began (June 7) until September 11, a total of 75,095 accounts have been opened. Maskan is Iran’s main home mortgage provider.