CBE Keeps Mortgage Rates at 3%, 8% for “Housing for All Egyptians” Initiative

Egypt’s Central Bank announced that the government has approved maintaining the preferential interest rates of 3% and 8% under its mortgage financing initiatives for citizens who had previously applied through the “Housing for All Egyptians” program.

In a statement released on Wednesday, the Central Bank of Egypt (CBE) said the Cabinet’s decision ensures that the original financing terms will remain in place for applicants to the initiative’s first three phases, targeted at low- and middle-income households, launched by the Social Housing and Mortgage Finance Support Fund.

According to the CBE, all banks operating in the local market have been formally notified to continue applying the same interest rates for these cases. The move aims to ease financial burdens on citizens who had already submitted applications and to shield them from the impact of recent interest rate adjustments.

“The decision reflects the government’s commitment to maintaining stability within the mortgage finance system and to ensuring that citizens have access to affordable housing,” the statement said.

The “Housing for All Egyptians” program is part of Egypt’s broader social development strategy to expand access to home ownership for lower- and middle-income groups, amid ongoing economic reforms and fluctuating market conditions.