UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: a mean effective rate on mortgage still growing to 27.12%

As of 25 October 2012, the CreditMarket Mortgage Index increased to 27.12% against 26.76% recorded on 11 October 2012 (a mean effective rate on mortgage loans per annum, in UAH). The information is as of 25 October 2012.

Denis Rakovsky, Sales Director at KreditMarket: “The growth of CreditMarket Mortgage Index has been recorded at each calculation for three months. It’s the third time in a row when the highest value ever has been reached. This time it increased by 0.36 p. p., to 27.12%. Recall that the previous highest point was recorded on 11 October 2012, when this Index reached 26.76%.

For the last two weeks since the previous calculation three banks from our CreditMarket Mortgage Index list (Volksbank, VTB, and KREDOBANK) have changed their mortgage loan terms. These three 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 UAH resources in the Ukrainian credit market. The market situation is likely to change in early November; however, the constant growth of the cost of long-term resources used by banks for real estate crediting is still observed.

In the short term we don’t see any prerequisites for CreditMarket Mortgage Index falling below the current value significantly, but 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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