Pag-IBIG to Extend Low Interest Rate for Home Loans

The Home Development Mutual Fund, commonly known as Pag-IBIG, is extending its low interest rates for home loans until end-June amid an improved financial standing and to address the country's housing backlog.

- Louise Maureen Simeon

In a statement, Pag-IBIG Fund said it kept interest rates steady until June, marking the second consecutive year of reduced rates.

As such, the Pag-IBIG housing loan still carries an interest of 6.25 percent per year under the three-year repricing period.

Its loan rate under its one-year repricing period is also unchanged at 5.75 percent per annum.