Home loan outlays continue to moderate in September
Hungarian banks signed contracts for HUF 77.65 billion of new home loans in September, 34.8% more than in the same month a year earlier but 4.5% less than in August, show data released by the National Bank of Hungary (MNB), state news agency MTI reported.
Monthly home loan outlays have been falling for three months straight since peaking in June, but were still at high levels in September as similar levels were last seen during the fall of 2003.
The average annual rate of interest on home loans stood at 5.08% in September, up from 4.97% in August, and from 4.68% in September 2017. The annualized rate on home loans was 4.74% in September.
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.