Increase in interest rate on new mortgages

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The interest rate on new mortgage loans increased by 0.03 percentage points in March.

In March, the floating rate on new mortgages to households from a sample of banks and mortgages companies increased by 0.03 percentage points to 2.52 per cent. The fixed interest rate went down by 0.06 percentage to 2.70 per cent.

The interest rates on outstanding mortgages with a fixed and floating rate to households were almost unchanged at 2.93 and 2.53 per cent respectively.

The interest rates on new and outstanding credit lines secured with dwellings were also unchanged at 2.46 and 2.56 per cent. 

Figure 1. Interest rates on new and outstanding loans secured on dwellings to households. Monthly sample of banks and mortage companies

New loans, floating interest rate New loans, fixed interest rate Loans outstanding, floating interest rate Loans outstanding, fixed interest rate
Mar. 2015 3.08 2.53 3.25 3.65
Apr. 2015 3.09 2.55 3.23 3.54
May 2015 3.07 2.6 3.22 3.46
June 2015 3.00 2.71 3.19 3.4
July 2015 2.87 2.73 3.15 3.38
Aug. 2015 2.83 2.7 2.93 3.36
Sep. 2015 2.78 2.71 2.91 3.4
Oct. 2015 2.60 2.61 2.88 3.33
Nov. 2015 2.57 2.51 2.77 3.29
Dec. 2015 2.54 2.51 2.65 3.28
Jan. 2016 2.55 2.48 2.64 3.26
Feb. 2016 2.50 2.39 2.63 3.24
Mar. 2016 2.48 2.23 2.61 3.22
Apr. 2016 2.40 2.22 2.59 3.20
May 2016 2.37 2.27 2.51 3.18
Jue 2016 2.38 2.26 2.47 3.16
July 2016 2.38 2.26 2.46 3.12
Aug. 2016 2.35 2.32 2.46 3.10
Sep. 2016 2.36 2.32 2.45 3.07
Oct. 2016 2.38 2.46 2.44 3.03
Nov. 2016 2.43 2.56 2.45 2.99
Dec. 2016 2.44 2.70 2.45 2.96
Jan. 2017 2.47 2.77 2.53 2.95
Feb. 2017 2.49 2.76 2.53 2.94
Mar 2017 2.52 2.70 2.53 2.93

Increase in the interest rate margin

The interest rate margin on new mortgages to households increased by 0.10 percentage to 1.54 per cent in March, while the interest rate margin on outstanding loans increased by 0.07 percentage points to 1.57 per cent. NIBOR went down by 0.07 percentage points in the same period to 0.99 per cent. 

Figure 2. Interest margins on new and outstanding loans with a mortgage to households. Sample of banks and mortgage companies

Loans margin, total outstanding loans secured on dwellings Loans margin, new total loans secured on dwellings NIBOR
Mar. 2015 1.49 1.79 1.50
Apr. 2015 1.48 1.73 1.53
May 2015 1.52 1.76 1.48
June 2015 1.61 1.85 1.36
July 2015 1.57 1.88 1.29
Aug. 2015 1.67 1.83 1.15
Sep. 2015 1.64 1.82 1.14
Oct. 2015 1.49 1.81 1.11
Nov. 2015 1.37 1.62 1.20
Dec. 2015 1.38 1.56 1.15
Jan. 2016 1.36 1.51 1.19
Feb. 2016 1.43 1.61 1.07
Mar. 2016 1.45 1.65 1.02
Apr. 2016 1.38 1.63 1.01
May 2016 1.38 1.58 0.99
Jue 2016 1.34 1.50 1.03
July 2016 1.31 1.45 1.07
Aug. 2016 1.26 1.42 1.09
Sep. 2016 1.19 1.33 1.17
Oct. 2016 1.27 1.37 1.12
Nov. 2016 1.28 1.34 1.16
Dec. 2016 1.27 1.30 1.19
Jan. 2017 1.45 1.52 1.04
Feb. 2017 1.44 1.5 1.06
Mar. 2017 1.54 1.57 0.99

Interest rate on loans to non-financial corporations

For new other repayment loans to non-financial corporations, the interest rate increased by 0.20 percentage points to 3.03 per cent in March, while the interest rate on outstanding loans fell by 0.06 percentage points to 3.12 per cent.

Stable deposit rates

The interest rate on deposits from non-financial corporations and the interest rate on total deposits from households were stable at 0.69 and 0.78 per cent respectively.

Increased interest rate for state lending institutions (complete census)

The interest rate from state lending institutions increased by 0.09 percentage points to 1.83 per cent from December 2016 to March 2017, while the interest rate on loans from the State Pension Fund was stable at 2.20 per cent. 

Decreased share of fixed-interest loans (complete census)

The share of fixed-interest rate loans secured on dwellings to households from banks and mortgage companies fell from December 2016 to March 2017; from 7.6 per cent to 7.5 per cent. The share of fixed-interest rates has decreased in the last six quarters.