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prima:Interest rate on mortgages in Puerto Rico is close to 7%

Despite higher costs, lack of inventory drives buyers to stay in market

February 18, 2025 - 5:33 PM

According to the executive director of the Mortgage Bankers Association (MBA), Puerto Rico chapter, Ricardo Negrón, mortgage rates will remain between 6.75% and a little over 7%. (Shutterstock)

Mortgage rates on 30-year loans are hovering around the 7% threshold, which in the opinion of economist Graham Castillo has not been a deterrent for consumers to continue with the desire to purchase a residence despite an environment of scarcity of available inventory and a continuous increase in prices.

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