NHE announces interest rate increase

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The National Housing Enterprise (NHE) has announced a 0.5 per cent increase in its prime lending rate from 7.75 per cent to 8.25 per cent, as well as a 0.5 per cent increase in its mortgage lending rate from 7.75 per cent to 8.25 per cent.

This follows the announcement by the Bank of Namibia’s Monetary Policy Committee to raise the repo rate by 50 basis points on 15 June 2022.

In a media statement issued on Tuesday, NHE Acting Sales and Lending Executive, Ludwina Alex, stated that the interest rate changes will take effect on 01 August 2022.

‘The increase is influenced by the global economy as a result of the pandemic’s aftermath and NHE’s high cost of borrowing,’ she explained.

Source: The Namibian Press Agency