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Average interest rate for mortgages reached new record

THE AVERAGE interest rate for mortgage reached new record when it decreased to 3.13 percent per year. The reason is a deduction of interest rates in the category of three and five years fixed rates, according to Fincentrum analysis using data from the National Bank of Slovakia (NBS), the TASR newswire reported on November 3.

THE AVERAGE interest rate for mortgage reached new record when it decreased to 3.13 percent per year. The reason is a deduction of interest rates in the category of three and five years fixed rates, according to Fincentrum analysis using data from the National Bank of Slovakia (NBS), the TASR newswire reported on November 3.

“Mortgages with three years fixed rates are currently selling with a 2 percent interest rate and in case of five years fixed even a 2.2-percent rate occurred,” senior analyst of Fincentrum Peter Világi said, as quoted by TASR.

After summer months even the volume of provided mortgage credit has increased. In September banks loaned €418 million for mortgages which is a monthly increase of 14.7 percent.

“The last quarter of the year is always the strongest therefore it could be expected that we will overcome the current record of €507 million which banks provided in May this year,” Világi said, as quoted by TASR. “Current advantageous conditions will contribute to this for sure.”

Source: TASR

Compiled by Roman Cuprik from press reports
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