Mortgage Rate Cuts Deliver Billions in Relief to Homeowners

August 14 2025

The government’s strategic housing policies have resulted in $43.8 billion in savings for Guyanese families, driven largely by reduced mortgage interest rates and an expanded housing finance sector.

President of Guyana Dr Irfaan Ali, in his remars at the International Building Expo 2025, it was reported that the low-income housing mortgage rate was reduced from 7.5% to 5%, enabling borrowers to save $3.8 billion. In the young professional category, a 29% mortgage rate reduction generated $40 billion in savings.

The financial sector has also recorded unprecedented stability, with non-performing housing loans declining from 11% in 2020 to under 2% in 2025. Mortgage lending has grown by 90% over the same period, climbing from $136 billion to $258 billion. Loans to the construction sector rose from $9.2 billion to $22.2 billion in five years.

According to the Head-of-State, these measures translate into real financial relief, giving families more resources to improve their living standards, invest in education, and secure long-term stability.