- 25 Apr 2022 11:49 AM
- Hungary Around the Clock
The unweighted average interest rate of variable-rate housing loans rose to 9.2% in early April, with the five-year benchmark rate climbing to 6.2% and that of the 10-year rate to 6.3%, according to Bankmonitor.hu.
Home loans are likely to become more expensive with interbank rates climbing higher and further rate hikes in the pipeline.
Rising home loans and higher monthly instalments mean that customers with the average net income of Ft 311,000 can take out an Ft 18.8 million, 20-year fixed-rate home loan at present, compared to Ft 24.1 million a year ago.
The same figures for borrowers with salaries close to the median income of Ft 250,000 are Ft 15.1 million and Ft 19.4 million respectively.