A few weeks ago, our lender, called me excitedly that home mortgage rates were going down. But I was banned from writing about it because one or two years ago I wrote about something similar before my vacation and my phone rang every ten minutes during my vacation.
But now she’s back from vacation, charged, refreshed, so I asked her to write the big news.
So interest rates on loans continued to fall, which is only apparently good news, in fact the measure of the sick economy’s ability to fall even further. (I mean, interest rates have fallen even further to the detriment of banks’ profits. More.)
However, if you are borrowing, this is really good news for you right now.
Here are some statements from the article
-Because government bonds have an interest rate of 4.95% per annum, few people can buy a home for cash if they get a five-year fixed loan at a 2.71% interest rate and 3.7% a 10-year fixed rate loan . (Of course, the APR counts, so check it out and the amount of credit also affects interest rates.)
If you do not have a fixed term loan for 5 or 10 years, it may be worthwhile to fix your loan now . (This is where the cost of redeeming a loan should be taken into account, but in most cases it is worth it, especially for greater security.)
A 5 year market loan can be cheaper than a state fixed 3% CSOK loan if you want to repay it anyway after 5 years.
The decline in the most important ratios of interest rates on loans with a maturity of five years or longer (ÁKK, BIRS) has significantly reordered the state of pricing competition in the housing loan market.
Loans with an interest rate of one year or less are fixed at a reference rate
Interest on loans with an interest rate of over one year, such as consumer loans, is not fixed at a reference rate. In the case of consumer-friendly loans, the maximum loan interest rate is set at the time the loan is taken (reference rate + 3.5%) and also the maximum amount that can be changed from interest to interest period.
However, banks have been and will continue to lend at significantly more favorable terms than interest rates. A fall in benchmark yields does not automatically entail cheaper loans for individual banks. Most financial institutions make their pricing decisions in the “Bermuda Triangle” of benchmark expectations, longer-term expectations of changes in the benchmarks, interest rates they consider relevant, and their sales figures.
There are five financial institutions that cut interest rates
By August compared to their July offerings. The others did not change, they only adjusted to the lower interest rate ceiling. As a result, interest rates on bids with 5 and 10 year spreads are quite wide. We offer a five-year fixed-rate consumer-friendly home loan offer at up to 2.71%, with the most expensive at 4.96%. The 10-year fixed interest rates range from 3.67% to 5.96%.