Barbadians are enjoying the lowest mortgage rates in the last ten years.<\/p>\n
And, president of the Barbados Banking Association, Donna Wellington, said contrary to popular belief, interest rates on those mortgages had not gone up across the board.<\/p>\n
Barbadians are also defaulting less\u00a0 on their payments for all loans, in spite of the country\u2019s turbulent economic situation.<\/p>\n
\u201cThe latest available data for the Central Bank of Barbados shows non-performing or delinquent loans\u00a0 as a percentage of total loans\u00a0 at 8.8 per cent,\u201d Wellington revealed in a recent interview.<\/p>\n
\u201cThis means that for every $100 borrowed from commercial banks, borrowers of $8.80 are not repaying\u00a0 their loans as agreed. This percentage is down from 10.6 per cent in 2015.\u201d<\/p>\n