Sep 18, 2023

Islamic home financing opens the door to homeownership

"Higher wages still attract workers, but people are reluctant to move because of high housing costs," explained senior economics contributor Chris Farrell. Mario Tama/Getty Images

Paying interest goes against Islamic rules on finance. Now, more institutions are offering Islamic mortgage solutions. Plus, what happens if the UAW strike grows?

Segments From this episode

The auto strikes are limited right now. But what if they don't stay that way?

by Nova Safo

The current United Auto Workers strike is limited, with less than 10% of covered employees striking. But what broader economic impact could an all-out strike have?

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The Fed's plan for rates? "Higher for longer"

by Sabri Ben-Achour

We check in with Julia Coronado, founder of MacroPolicy Perspectives and a professor at UT Austin, about the forecast for interest rate hikes.

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Islamic home financing expanding in the U.S., opening doors for Muslim homebuyers

by Ari Snider

Sep 18, 2023

Islamic finance offers alternatives to conventional loans and mortgages to comply with a religious prohibition on interest, which is seen as financial exploitation.

Sophie Mutamuliza, seated in purple headscarf, and her husband, Adam Abeza, standing, with their four children outside the family's home in Maine this summer. The family was one of the first to close on a home using Maine-based Androscoggin Bank's new Islamic mortgage solution.

Ari Snider

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Music from the episode

For Avery Sammi Lanzetta

The team

David Brancaccio Host

Leanna Byrne Host, BBC

Kelly Silvera Executive Producer

Meredith Garretson Morbey Senior Producer

Erika Soderstrom Producer

Alex Schroeder Producer

Ariana Rosas Producer

Dylan Miettinen Digital Producer

Jesson Duller Media Producer

Nick Esposito Media Producer

Nic Perez Director/Producer

James Graham Producer, BBC

Jo Critcher Producer, BBC

Olie D'Albertanson Producer, BBC

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