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.
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:
- Bank of Baroda
- CIBC FirstCaribbean International Bank
- First Citizens
- JMMB Trinidad and Tobago
- RBC Royal Bank