Hungary Set to Maintain Ceiling on Home Mortgage Interest Rate

  • 9 Apr 2024 7:23 AM
  • Hungary Around the Clock
Hungary Set to Maintain Ceiling on Home Mortgage Interest Rate
Economy Minister Márton Nagy told a press conference on Monday that he will make a proposal to the government to keep the interest rate cap on home mortgage loans until the end of the year.

The interest cap on loans for SMEs was abolished on April 1, but the ceiling on rates for home mortgage loans has been extended to July 1.

Care must be taken, in order to protect families, as that consideration was the reason for the earlier prolongation, Nagy said.

It is thus likely that the government will further extend the cap until the end of December, when it will be possible to again review the need for any further extension, he added.

The additional extension will help to restore household consumption to earlier levels, he added.

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