UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Index: a mean effective rate on mortgage decreased to 27.94%

On 30 January, CreditMarket Mortgage Index decreased to 27.94% against 28.65% recorded on 20 December 2012 (a mean effective rate on housing loans per annum, in UAH). The information is as of 30 January 2013.

Denis Rakovsky, Sales Director at KreditMarket: “CreditMarket Mortgage Index, which was maintaining the highest value of 28.64% during December 2012, decreased by 0.71 p. p. For the last two weeks since the previous calculation, four banks from our CreditMarket Mortgage Index list (Ukrsotsbank, Sberbank of Russia, PUMB, and Erste Bank) have changed their housing loan terms. Ukrsotsbank and PUMB have decreased the nominal interest rate, and Sberbank of Russia has increased it. Erste Bank has raised the cost of the borrower’s life insurance and collateralized property insurance. In addition to mentioned adjustments, CreditMarket Mortgage Index was also impacted by the mortgage loan terms offered by a new bank (Pravex Bank) added to the index list. Despite a decrease of the resource market deficiency observed within recent weeks, mortgage rates are still high. The market is taking first careful steps to decrease the cost of financial resources through population’s deposits. The decreasing cost of involved resources has not significantly affected the mortgage market. In the short term, we do not see any strong preconditions for CreditMarket Mortgage Index falling below the current level significantly. However, in proportion to a further decrease of credit resources, banks will be carefully decreasing the mortgage loan prices for population. Their readiness to reduce the cost of mortgage loans will be in close dependence on consolidation of the banking system liquidity growth trend and decrease of rates on the deposit market.”

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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