Mortgage Market Reference Rate

The Mortgage Market Reference Rate is an interest rate benchmark against which mortgages are to be priced and re-priced. It is computed by the Central Bank based on information on commercial banks' funding costs and yields on fifteen-year treasury bonds. The Mortgage Market Reference Rate is provided by the Central Bank on a quarterly basis on the first working day in the months of March, June, September and December.

Mortgage Market Reference Rate (MMRR) Series

Banks with mortgage rates aligned to the MMRR

The following banks have confirmed alignment of their mortgage rates to the MMRR consistent with the Guideline:

ANSA Bank Limited (formerly Bank of Baroda (Trinidad and Tobago) Limited)
CIBC FirstCaribbean International Bank
First Citizens
JMMB Trinidad and Tobago
RBC Royal Bank

Mortgage Market Reference Rate

01-Sep-2017

Mortgage Market Reference Rate (MMRR) - September 2017

Mortgage Market Reference Rate for September 2017 unchanged

22-May-2017

Summary of Results of Review of Residential Real Estate Mortgage Market Guideline

The Central Bank of Trinidad and Tobago (Central Bank), in consultation with the Bankers Association of Trinidad and Tobago (BATT), introduced the "Residential Real Estate Mortgage Market Guideline" in September 2011

01-Mar-2017

Mortgage Market Reference Rate (MMRR) - March 2017

Mortgage Market Reference Rate (MMRR) for March 2017 Unchanged in the Context of the Ongoing Review

02-Sep-2016

Mortgage Market Reference Rate (MMRR) - September 2016

The Residential Real Estate Mortgage Market Guideline1 stipulates that the MMRR should be reviewed at least once every three years (Clause 5.5); the last review took place in 2013.

01-Jun-2016

Mortgage Market Reference Rate (MMRR) Maintained at 3.00 per cent During Review Exercise

In May 2016, the Central Bank of Trinidad and Tobago in collaboration with the Bankers' Association of Trinidad and Tobago began the scheduled review of the MMRR

01-Mar-2016

Mortgage Market Reference Rate Increases to 3.00 Per cent in March 2016

Increases in both the 15-year Central Government Treasury yield and commercial banks’ cost of funds resulted in the MMRR...

01-Jun-2015

Mortgage Market Reference Rate - June 1, 2015

The MMRR rose to 2.50 per cent in June 2015, the first increase since its introduction in December 2011.

02-Mar-2015

MMRR Unchanged at 2.25 per cent in March 2015

Commercial banks and their affiliated non-bank financial institutions are expected to apply the MMRR.

02-Dec-2014

MMRR unchanged at 2.25 per cent in December 2014

Commercial banks and their affiliated non-bank financial institutions are expected to apply the MMRR...

03-Sep-2014

Mortgage Market Reference Rate - September 2014

The MMRR remains unchanged at 2.25 per cent in September 2014. Commercial banks and their affiliated non-bank financial institutions...