Improved Credit Conditions for Q1
- Overall credit conditions to the private sector during the March 2019 quarter eased, relative to the previous quarter.
- The easing of credit conditions was fueled by more accommodative price and non-price lending policies applicable to both secured and unsecured lending.
- For secured loans, lenders reported lower interest rates, lower fees and increased maximum loan-to-value ratios (LTV ratios describe the size of a loan in relation to the value of the property securing the loan).
- Improved conditions for unsecured loans were evidenced by reports of reduced interest rates, lower fees on credit card and non-credit card loans and increases in credit card limits.
(Source: Bank of Jamaica)