Browsing: Mortgage market

We all dream of owning our own homes. Financing solutions help you turn that dream into a reality. Some people may look up to mortgages for financing. A mortgage is a type of loan you get from a bank or building society to help buy a property.

However, several factors affect mortgage rates, including credit score, loan type and down payment.

  • Tanzania’s fast-growing housing demand is mainly driven by the strong and sustained economic growth with GDP growth averaging 6-7 per cent over the past decade, the fast-growing Tanzanian population, which is estimated to more than double by 2050, and efforts by the Government in partnership with global non-profit institutions and foreign Governments to meet the growing demand of affordable housing.
  • TMRC is supporting mortgage market growth through provision of longer-term funds to members.
  • Tanzania’s outstanding mortgage debt as of June 30, 2022 increased to TZS 509.99 billion equivalent to