Mortgage rates in Jamaica remain high but stable, offering a rare moment of certainty in a housing market long plagued by volatility, expensive land, and soaring construction costs. While U.S. headlines trumpet falling rates and a surge in demand, Jamaica’s story is quieter, though no less significant: stability, not decline, is shaping buyer and seller behaviour.
According to Bank of Jamaica data, the average mortgage credit interest rate at commercial banks stood at 7.55% in July 2025 — virtually unchanged from June (7.54%) and May (7.53%). While the movement is modest, industry experts say the plateau is boosting confidence among Jamaicans exploring homeownership.
Private banks still advertise higher ranges: Scotiabank Jamaica lists mortgage products between 8.5% and 12.5%, while JN Bank positions its loans at 9.85% to 10.35%. Meanwhile, the National Housing Trust (NHT) continues to anchor affordability for qualifying households with income-linked rates as low as 0% for lower earners…
