DUBAI, Oct 3 (Reuters) – The Saudi Real Estate Refinance Co (SRC), the Saudi equivalent of U.S. mortgage finance business Fannie Mae, said on Monday that it has extended to 30 years the maturity on its benchmark for mortgages in the kingdom.
The long-term fixed rate (LTFR) benchmark previously had a maximum eligible tenor of 25 years.
“SRC will further support the development of a robust mortgage market in the Kingdom, providing longer term…