Home Loan Rates Climb Over 10%

Residential

Photo by Fabio Balbi/Shutterstock.com

The average annual percentage rate for home loans in Hungary stood at 10.25% in October, monthly data released by the National Bank of Hungary (MNB) on Friday show.

The average home loan APR rose from 9.27% in September and 8.46% in August. The average rate for contracts signed in January was 4.79%.

The central bank base rate, which is paid on mandatory reserves, stood at 13% in October. In mid-October, MNB launched daily tenders for O/N deposits that pay 18%.

Households signed new home loan contracts with a value of HUF 60 billion in October, down from HUF 79 bln in September and HUF 96 bln in August.

ADVERTISEMENT

MET Group Launches Solar Parks in Hungary Green Energy

MET Group Launches Solar Parks in Hungary

Gov't to Launch HUF 700 bln Business Credit Scheme  Government

Gov't to Launch HUF 700 bln Business Credit Scheme 

Border Hungarians Fill up Cheaper Abroad Retail

Border Hungarians Fill up Cheaper Abroad

Avatar: The Way of Water Breaks Box Office Record in Hungary Art

Avatar: The Way of Water Breaks Box Office Record in Hungary

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.