UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: a mean effective rate on mortgage keeps going up to 26.39%

On 26 September 2012 the CreditMarket Mortgage Index increased to 26.39% against 25.79% recorded on 12 September 2012 (a mean effective rate on mortgage loans per annum, in UAH). The information is as of 26 September 2012.

Denys Rakovsky, Sales Director at KreditMarket: “CreditMarket Mortgage Index has reached the next highest point, 26.39%, which is 0.6 p. p. higher than the previous value. Recall that the previous highest point was recorded on 12 August 2012, during the last calculation, when this Index reached 25.79%.

For the last two weeks since the previous calculation four banks from our CreditMarket Mortgage Index list (OTP Bank, Credit Agricole, Kredobank, Astra Bank) have changed their mortgage loan terms. All four banks have increased the nominal interest rate.

In our opinion, the key rate increase factor has been stable for recent months. It is a strong deficiency of long-term monetary resources in the Ukrainian credit market. Unfortunately, today we do not see any significant prerequisites for the market situation alteration. Moreover, we still observe a steady growth of the cost of long-term hryvnia resources used by banks for real estate crediting. In particular, the interest rate for 12 months UAH deposits published by the NBU reached 19% on 20 September. Even though it fell down to 18.96% on 24 September, this value points at the strong deficiency and expensiveness of the monetary resources.

As before, in the mid-term we don’t see any prerequisites for CreditMarket Mortgage Index falling below the current value significantly; however, a further slight growth is quite possible.”

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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