UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: a mean effective rate on mortgage keeps on growing to 24.22%

CreditMarket Mortgage Index has increased to 24.22% by 15 August 2012 (a mean effective rate on mortgage loans per annum, in UAH) against 24.05% recorded on 01 August 2012. The information is as of 15 August 2012.

Denys Rakovsky, Sales Director at KreditMarket: “CreditMarket Mortgage Index has increased again by 0.17 p. p., to 24.22%. For the last two weeks since the previous calculation two banks from our CreditMarket Mortgage Index list (OTP Bank, Bank of Cyprus) have changed the mortgage loan terms: banks increased the nominal interest rate which resulted in the growth of a mean effective rate for this crediting type.

We’d also stress that CreditMarket Mortgage Index is the only of five indices measured by us which changed its value within two recent weeks.

As we mentioned many times, the state mortgage program launched by the government did not practically affect the terms of standard mortgage products of commercial banks, at least at the current stage.

In our opinion, the key rate growth factor is a strong deficiency of long-term monetary resources in the Ukrainian credit market. Unfortunately, today we do not see any significant prerequisites for changes in the market. Moreover, for recent 2 months the interest rate for 12 months UAH deposits published by the NBU has increased from 16.61% to 17.87%. It reflects the growing cost of long-term hryvnia resources used by banks for real estate purchase crediting.

In the short term, we don’t see any prerequisites for CreditMarket Mortgage Index falling below the current value as long as we observe no factors facilitating the hryvnia resource cheapening.”

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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