Since the new Turkish mortgage law passed on March 2007, the mortgage and real estate markets have continued their growing trends that are mainly driven by lower interest rates; however, this growth is probably just the tip of the iceberg. The Turkish mortgage law that passed on March 2007 has two important properties that are expected to boom the mortgage and real estate markets in Turkey: 1) New mortgage products : With the inclusion of the adjustable rate mortgage products, banks are able to transfer some of the economy related risks in their balance sheets to borrowers. In adjustable rate
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