The Banco Nacional de la Vivienda joined financial institutions offering low cost mortgages. Leonardo Matos Berrido, general manager of the government bank, announced it is offering financing at 14.5% with 30-year plans and coverage of up to 90% of the total financing. As reported in Hoy newspaper, Matos commented this is the lowest available in the market today. Several banks had offered 15% financing. The financing is the lowest offered in the DR in almost 20 years’ time and is spurring a boom in real estate development.