UKRAINIAN INDEX
OF EFFECTIVE INTEREST RATES
ON CONSUMER LOANS FOR INDIVIDUALS
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CreditMarket Mortgage Index: a mean effective rate on mortgage down to 23.96%

On 31 July, CreditMarket Mortgage Index went down to 23.96% (an effective rate on housing loans per annum, in UAH), from 24.04% in 12 July.

KreditMarket Sales Director Denis Rakovsky informed:“Four banks from the CreditMarket Mortgage Index portfolio reduced slightly their nominal rates in July, particularly, Kredobank, Sberbank of Russia, Bank of Cyprus and Finance and Credit (bank). Besides, property and life insurance charges related to mortgage loans were decreased. The decline in rates and charges was sufficient for the CreditMarket Mortgage Index to get changed (a market-average housing loan rate per annum, in UAH) since that indicator is calculated as a midpoint of all effective rates on mortgage loans applied by largest market operators.

Note that the current value is the lowest one since the end of August 2012 where the boost of mortgage loan costs started which was generated by the increase in the cost of resources on a finance market last summer.

At present, we witness a minor cost-cutting of mortgage loans for individuals on the secondary market. That trend is under way since April. Some lenders try to offer a less cost of mortgage than their rivals”.

Recall that Erste Bank (Fidocombank) that was included to CreditMarket Mortgage Index evaluations, ceased extending housing loans and is excluded from our calculations.

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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