A new financial regulation defining “qualified mortgages” is due to take effect in January 2014. It would make the approval process for a mortgage stricter, both in the United States and Puerto Rico.
While many Puerto Rico residents will kick off a four-day weekend today, commercial banks will be observing the July 25th Constitution Day celebration and Saturday’s José Celso Barbosa holiday with special hours.
Puerto Rico’s major banks announced their schedules for today’s Luis Muñoz Rivera holiday, some offering shorter service hours.