Government Housing Loan Corp. is expected to reduce its basic lending rate to 2.6 percent from the current 2.7 percent, retroactive to Nov. 21, corporation officials said Monday.
The basic interest rate is applied to the first 10 years of repayment on public loans for houses with a floor space of up to 175 sq. meters.
The Finance Ministry said Monday it will cut the interest rate on loans under the government's fiscal investment and loan program by 0.1 percentage point to 1.7 percent per annum beginning Wednesday.