HFC cuts Cyprus housing rate by 0.5%

 President Demetris Christofias, seen here being greeted by Finance Minister Charilaos Stavrakis, called on young couples to apply to the House Finance Corporation for housing loans. He said that the HFC slashed interest rates on loans by 0.5% and that of the 200 mln euros available, only 17.5 mln had been taken up in loans in the past three months. Diko’s Antigone Papadopoulou criticized the rate cut and said this should have been 1% as commercial banks offer better rates on housing loans. (photo: CNA)