Sun, Nov 22 2009

Mortgage rates hit new highs in September

Thu, Oct 23 2008 10:42 CET bydnevnik.bg 155 Views

Four Bulgarian banks raised the interest rates charged on lev-denominated mortgage loans in September, data from moitepari.bg website, which compares loan and personal finance offers of different lenders, showed.

The Moite Pari leva-denominated index, which tracks the average annual interest rates of 20-year mortgages, picked up five basis points to reach 9.61 per cent, the highest since was launched at the end of 2005.

Five of the fifteen leading local-currency mortgage lenders tracked by the index have revised their mortgage loan terms. Only Municipal Bank cut by the price of its most popular mortgage loan by two basis points after the central bank lowered its benchmark rate, the website said.

The price of Allianz Bank Bulgaria's loans jumped by 0.76 percentage points as the interest rate grew nearly as much.

Raiffeisenbank's Bulgarian arm added 30 basis points to the rate of its best mortgage offer, and the new service fee brought the total increase to 0.38 percentage points.

The SOFIBOR index rising 0.15 percentage points in September drove up the price of ProCredit Bank's mortgages by 0.13 percentage points.

UniCredit Bulbank made a milder increase, adding eight basis points and halving application fee, for a total increase of seven basis points.

The Moite Pari euro-denominated index rose almost twice as quicker than its local-currency counterpart due to price hikes by EIBank, Allianz Bank Bulgaria, UniCredit Bulbank, Raiffeisenbank and ProCredit Bank. Up by nine basis points, the average annual interest rates of 20-year mortgages denominated in euro is now 8.46 per cent.

Source: Dnevnik.bg

Write comment

Name:Comment:

Generate new code
Send your comment

More in this category

New modern marina worth 24M leva to be constructed in Pomorie

The Black Sea town of Pomorie has approved a proposal for the construction of a spacious and modern marina, with a capacity of over 600 yachts and small passenger ships.

Construction sector in Europe continues to decline

Over the course of a year, from one of the leaders in Europe in new construction, Bulgaria became one of the countries currently quagmired at the bottom of the table and was now amongst the three worst hit countries, along with Romania and Slovenia.

Bulgarian Property Developments begin construction of 12.6M euro logistics park in Rousse

The park is posed to act as an economic stimulant in the region, creating a modern infrastructural base for companies. It is set for completion by Q3 of 2010.

Discounter chains Penny Market, Plus open stores in Bulgaria

Both retailers target at least 50 outlets in Bulgaria by the end of 2010.

The big question

When will Bulgaria’s real estate and construction sector recover?

© 2000-2009, Sofia Echo Media Ltd.

Web Design by RIZN

Sofia Echo Media is part of the Economedia Group.
The news and information content on this website is provided by our editorial team and is copyrighted. Any unauthorised reproduction or use of it is strictly forbidden. Reproduction of this website's content is permitted only with prior written permission from the Editor-in-Chief, should be propertly acredited and provide an active link back to our site. Comments posted by the website's visitors are independent of the editorial materials and do not represent the views of sofiaecho.com. Sofia Echo Media cannot be held responsible for the statements contained in visitor comments. The percentаge change in the shares' prices are based on the price of the last transaction of the current session compared to the price of the last transaction of the previous session. Bulgarian Stock Exchange data is not real-time, but updated every 15 minutes, and should not be used as a basis for decisions about buying or selling stock options.