UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: a mean effective rate on mortgage keeps growing to 28.13%

As of 7 November 2012, the CreditMarket Mortgage Index increased to 28.13% against 27.12% recorded on 25 October 2012 (a mean effective rate on mortgage loans per annum, in UAH). The information is as of 7 November 2012.

Denys Rakovsky, Sales Director at KreditMarket: “For four months CreditMarket Mortgage Index has been demonstrating its growth at each calculation. It’s the fourth time in a row when the highest value ever was reached. This time it increased by 1.01 p. p., to 28.13%. Recall that the previous highest point was recorded during the last calculation on 25 October 2012, when this Index made up 27.12%.

For the last two weeks since the previous calculation three banks from our CreditMarket Mortgage Index list ( Ukrsotsbank, Volksbank, and Bank of Cyprus ) have changed their mortgage loan terms. These three banks have increased the nominal interest rate. However, the Bank of Cyprus’ rate has gone up significantly, by almost a third part of the previous value.

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. Our hopes for the market situation alteration in early November were not matched. Therefore, we still observe a constant growth of the cost of long-term UAH resources used by banks for real estate crediting. 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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