Islamic finance and recent mortgage newsNovember 14, 2019 at 9:48 am
Here’s the real deal. You might be getting Islamic finance to cover your mortgage. Sure, that’s the best idea if you’re looking to avoid riba and stay sharia compliant. Still, once you start looking into it, you’ll see that even the line between Islamic and traditional mortgages can be a little fuzzy at times.
Beyond assuring compliance on the Islamic side, there are some gray areas. That’s why we put together some of the latest news about mortgages in the United States. Reading this information will help you make an informed decision. That’s what we are really all about.
For example, here’s some positive news that we came across. There is a market selloff being reported at the beginning of October. That’s causing an unexpected change in the mortgage rates that can affect the kind of Islamic finance you get.
The result is mortgage rates have been falling. In fact, they’ve dropped three times in a row having reached the point they were in September. This is all following recent reports on jobs and the economy that point to an economic slowdown. The long story short of it is this.
Islamic Finance Methods and Bargains
Whether you’re looking for a home through Islamic finance or traditional methods, the bargains are out there. Many experts in the field are predicting that the rates are going to fall — perhaps even significantly.
Other reports point to the fact that lower interest rates are doing their job. In fact, the sales of US single-family homes jumped in August after a few slow months before.
It’s an indication that the economy is growing, even if just slowly. There are other factors that will work on mortgage rates. One of the big ones that can influence Islamic finance is the global trade war between China and the United States.
When the US central bank cut interest rates last July, it was the first time since 2008. Not necessarily a good indicator for the world economy in general and Islamic finance specifically.
Remember our program was established by an international board of sharia scholars. Our priority is to help you get the keys to a house and live the American dream without riba. Take a few minutes to read about our lease to own program. The program that we put together is designed to make sure that you are free from interest.
Owning a home in America is possible for everyone. We can help you make sure that your purchase is sharia compliant. Come in and have a consultation with our experts. We will be able to fill you in on the details for Islamic finance that include the responsibilities involved in a contract.
We even keep an eye on the mortgage rates for you. It’s our pleasure to offer you a solution that’s sharia compliant and traditional at the same time
Islamic finance is growing in leaps and bounds around the world. Why not let us help you use this tool so you can get your piece of the American dream today?