Credit Suisse reduces its mortgage rates

Credit Suisse is reducing its interest rates for adjustable-rate mortgages. The guideline rate for adjustable-rate mortgages is falling to 2.85 percent with immediate effect for new loans and on April 1, 2009 for existing ones.

The guideline rate is used for top-quality residential properties and borrowers with impeccable creditworthiness.

As for construction loans, the new rate will 2.60 percent.