Financial Services

Consumer Alert: Bank of Jamaica Interest Rate Changes Affect Loan Payments

(adsbygoogle = window.adsbygoogle || []).push({}); ## What's Happening The Bank of Jamaica raised its policy interest rate by 0.75%, marking the third increase this year. This change will impact mortg...

Business News Team September 03, 2025 1 min read 27 views
## What's Happening The Bank of Jamaica raised its policy interest rate by 0.75%, marking the third increase this year. This change will impact mortgage rates, personal loans, and credit card interest across all banks. ## How This Affects You If you have a variable rate mortgage or loan, your monthly payments will likely increase within 30-60 days. Fixed-rate customers are protected until renewal. ## What You Should Know • Mortgage rates expected to rise by 0.5-1%
• Credit card interest rates may increase immediately • Existing fixed-rate loans remain unchanged • New loan applications will face higher rates ## The Bottom Line Review your loan agreements and consider locking in fixed rates before further increases. --- *This information is based on reports from Bank of Jamaica. Consult your financial institution for specific impacts.*
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