The Dominican Association of Home Builders and Promoters (Acoprovi) said housing starts were up recently thanks to a slight decline in interest rates. Interest rates for the past year ranged between 22-26%, and dropped in the second quarter of this year to 22-24%. Francisco Anibal Gonzalez, president of the organization, told Hoy newspaper that he expects the rates to continue dropping to an acceptable level of 18%. The builders would like financing terms to increase from 15 to 30 years so monthly payments could be reduced.
