December 7, 2021

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Mortgages set a new record and the market is waiting for an interest rate hike.  Ready to buy an apartment must answer a major question

Mortgages set a new record and the market is waiting for an interest rate hike. Ready to buy an apartment must answer a major question

Another record set in the mortgage market once again drew attention to the risks that borrowers are exposed to. Analysts agree that we will face further hikes in interest rates, and therefore higher monthly premiums.

  • The market expects further increases in interest rates, which can be seen not only in the published analyzes, but also in the increase in the profitability of Polish bonds.
  • Higher interest rates mean higher monthly mortgage payments
  • Possible increase in interest rates by 0.25 p. It will mean an increase in the monthly obligation of the bank by 125 PLN compared to the amount before the October increase. Increase by 0.5 p. It is a higher monthly expenditure of 170 PLN
  • Senior Analyst Expander reminds you the main question to ask by planning for a loan to avoid the repayment problem in the future
  • You can find more of this information on the Onet homepage

After 15 months of very prudent policies The Monetary Policy Board, which surprised the market with its moment and size, raised interest rates by 0.4 points. The reference rate is 0.50 percent. on an annual basis. (Lombard rate 1%, deposit rate 0%, rediscount rate 0.51%, discount rate 0.52%).

The increase led to an increase in the interest rate on Polish bank debt. Mainly interested in the size of the increases are holders of mortgage loans, some of whom have already received information about the increase in their monthly payments. As we wrote in BI Polska, in the case of 300 thousand. The PLN loan for 25 years was recently granted, the monthly increase amounted to 63 PLN.

The market expects more hikes

An October rate hike likely won’t be the last market expectation. Already on the day the MPC decision was published, ING Bank Śląski experts indicated that they expect further moves from the central bank. In their opinion, the target interest rates may be 2.5%, which can be reached for up to two years.

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