“The kingdom’s mortgage market is considered one of the lowest when it comes to delinquency — 0.6%…While that rate will increase, Saudis are committed to their loans; they’re very serious when it comes to liability.”
-Majed Al-Hogail, Saudi Housing Minister, in a Bloomberg interview, regarding the Saudi Real Estate Refinance Company — the state-owned equivalent of Fannie Mae and Freddie Mac in the U.S. [Bloomberg]
