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

Volume Increase Lifts Farm Sector Output in 2023 Crops

Volume Increase Lifts Farm Sector Output in 2023

Gov't Keeps Rate on General-purpose Student Loans at 7.99% Government

Gov't Keeps Rate on General-purpose Student Loans at 7.99%

Dr. Rose Ends Year With Renewal and Expansion Innovation

Dr. Rose Ends Year With Renewal and Expansion

Heineken Balaton Sound Announces 1st Phase Lineup In Hungary

Heineken Balaton Sound Announces 1st Phase Lineup

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.