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Pay attention to rising credit rates!


We want to make it clear that we are still in a good time to take out a home loan. On the other hand, interest rates rose in the credit market, ie loans became slightly more expensive. There is no need to think about drastic surges like say in Swift franc loans, but watch out!

Why have interest rates on loans increased?

Why have interest rates on loans increased?

By default everything is ideal as the Rose Bank base rate is still at a record low of 0.9%. Then why are interest rates still rising? Well, the answer lies in the other component of interest rates on the premium. Banks’ funding costs have increased. This means that they have access to outsourced resources (money) at a higher cost, and pass on this difference to customers.

What else to expect?

We would not force our own opinion on you, but we are so fortunate that the experts have almost the same opinion. According to the preliminary communication of the Sampaguita Bank, it does not intend to raise the base rate of 0.9% mentioned above until mid-2019 . In the meantime, the forint has reached its historical low, so a raise may be expected sooner. And it is no coincidence that from October 1, stricter regulations will be in place that will drive long-term borrowers towards fixed-rate loans.

What is worth doing now?

In a nutshell, it’s a little bit worth rolling up! Let’s not hesitate, of course, but within a year we can almost certainly raise the base rate, which, in turn, can affect our wallets sensitively. If, for example, the base rate increases by 1%, and thus the interest rate of our future loan, this could mean a monthly increase of several thousand forints in our monthly repayments. That’s why it’s more important than ever to count on your credit calculator! It shows exactly the conditions under which we can borrow at the moment and it is almost enveloping that we will not be in such a good position in the near future.

In conclusion, those who are thinking about borrowing should not hesitate very much. Of course, we are here to help you avoid slipping into buckets in the hurry. Therefore, contact us! Our job is to get you a loan quickly and efficiently and get the most out of buying a home financially.

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