Kingston, Jamaica — 09 March 2026
Mortgage rates in Jamaica have remained broadly unchanged over the past year, offering stability for borrowers but little relief in the cost of financing, as the housing market continues to face deeper structural pressures.
Data and lender trends indicate that average mortgage rates have hovered around 7.5 per cent since early 2025. However, most borrowers continue to encounter effective lending rates closer to 9 to 12 per cent, reflecting credit risk, bank margins, and individual financial profiles.
Despite a modest reduction in the Bank of Jamaica’s policy rate to 5.5 per cent in early 2026, commercial mortgage rates have yet to adjust meaningfully, leaving borrowing conditions largely intact.
