Tightening cycle has muted impact on home loan rates

MNB

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A tightening cycle launched by the National Bank of Hungary (MNB) last summer has had a marked impact on rates for corporate loans and retail consumer credit, but a limited effect on home loan rates, state news wire MTI reports, citing data released by the National Bank of Hungary (MNB).

The data show the average lending rate for corporate loans stood at 4.99% in December, up 289 bp from 12 months earlier.

During the same period, the average rate for consumer credit climbed 332 bp to 7.98%, while the average home loan rate rose just 43 bp to 4.32%.

The base rate of the National Bank of Hungary (MNB) stood at 2.4% at the end of December, up 180 bp from 0.60% 12 months earlier.

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