UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: a mean effective rate on mortgage jumped to high point of 24.35%

CreditMarket Mortgage Index went up by 0.01%, to 24.35% (an effective rate per annum, in UAH). The information is as of 14 March 2012.

Denys Rakovsky, Sales Director at KreditMarket: “At the background of an insignificant increase in the cost of auto loans, the growth in a mean effective rate for mortgage by a hundredth of one percent can be estimated as a sign of market fatigue of the rates that are too much for long secured loans.

The situation on the mortgage market is that the mortgage crediting is eagerly sought for as a low-amount credit: i.e., when a customer takes about 25-35% of the cost of an apartment, even at high interest rates, being afraid that the prices will go higher and he won’t have time to purchase an apartment for a low price.

For the past two weeks since the previous calculation, two banks from our CreditMarket Mortgage Index have changed their terms and conditions for this crediting type.

In the mid-term we consider that the mortgage market will stratify. It is likely that the mortgage market will be represented by the “social” government-funded sector with rather low interest rates and a complicated procedure for loan granting. Besides, an “open” sector will keep on existing, with interest rates lower than current ones, but nevertheless rather high – so that loans will be sough for as low-amount credits.

Information

CreditMarket Mortgage Index is calculated on the basis of loans granted at 70% of a purchase price of secondary market apartments for the term of 10 years. Promotional offers and credit on forfeited pledge excluded. The redemption scheme is annuity, or in case of no proposals – a serial loan. Currency – UAH. Principal is up to UAH400, 000 (the cost of an apartment – UAH571,500).

Index Values History

DateValue 
14.02.2014 23.10%
29.01.2014 23.10%
14.11.2013 23.10%
01.10.2013 23.14%
15.09.2013 23.24%
28.08.2013 23.24%
31.07.2013 23.96%
12.07.2013 24.04%
27.06.2013 25.30%
12.06.2013 25.30%
29.05.2013 25.64%
15.05.2013 25.64%
24.04.2013 25.64%
10.04.2013 25.64%
26.03.2013 27.34%
12.03.2013 27.43%
26.02.2013 28.48%
13.02.2013 27.94%
30.01.2013 27.94%
20.12.2012 28.64%
06.12.2012 28.64%
21.11.2012 28.13%
07.11.2012 28.13%
25.10.2012 27.12%
11.10.2012 26.76%
27.09.2012 26.39%
12.09.2012 25.79%
29.08.2012 25.35%
15.08.2012 24.22%
01.08.2012 24.05%
18.07.2012 23.86%
04.07.2012 24.09%
20.06.2012 23.83%
06.06.2012 24.00%
23.05.2012 24.00%
10.05.2012 24.12%
25.04.2012 24.12%
18.04.2012 24.14%
11.04.2012 24.13%
28.03.2012 24.13%
14.03.2012 24.35%
29.02.2012 24.34%
15.02.2012 24.29%
18.01.2012 25.14%
04.01.2012 24.44%
21.12.2011 24.44%
07.12.2011 24.35%
23.11.2011 23.37%
09.11.2011 22.83%
26.10.2011 20.37%
12.10.2011 20.37%
28.09.2011 21.52%
14.09.2011 21.52%
31.08.2011 20.37%
17.08.2011 20.37%
03.08.2011 20.37%
21.07.2011 20.37%
06.07.2011 19.22%
 

 

 
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