BSP MOVE PROMPTS SOLON TO SEEK AFFORDABLE HOUSING MEASURES

Galing sa Puso Party-list Rep. JP Padiernos called for safeguards to keep homeownership affordable for Filipino families amid rising borrowing costs and inflation following the Bangko Sentral ng Pilipinas’ (BSP) 50-basis-point interest rate hike to 5.50 percent.

Padiernos warned that higher lending costs could make housing loans more difficult to afford, particularly for middle- and lower-income families already struggling with rising prices of basic necessities.

Citing economic data, he noted that the country recorded 2.6 percent gross domestic product growth in the first half of 2026, while October inflation reached 7.8 percent.

He also pointed to weakening condominium demand in Metro Manila, where net take-up dropped to 500 units in the second quarter of 2026, its lowest in five quarters.

Padiernos urged banks and government agencies to develop targeted housing finance programs, flexible loan terms, and financing assistance to keep monthly payments manageable, especially for first-time homebuyers.

Source: PhilNews24 | November 10, 2026