Saudi Arabia’s mortgage law awaits approval

Saudi Arabia’s mortgage law will be submitted to King Abdullah for approval after the Shura Council completes its discussions next week, according to a senior member of the Council. The country has never had legislation covering mortgage and property finance and the law will regulate the use of mortgages, including registration and providing court authority over their use.

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Mortgage rates drop on Fed intervention

The average U.S. rate for a 30-year fixed mortgage fell to 3.33% this week, according to Freddie Mac, as the Federal Reserve’s bond-buying program created demand for securities backed by home loans.

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3d rendering of a row of luxury townhouses along a street

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