Of Leonida Stergiou The goal of Greek banks to increase organic profitability, ie loan and commission income, faces challenges. On the one hand, the rise in interest rates by the ECB significantly boosts banks’ interest income. On the other hand, this presupposes credit expansion, ie a net positive increase in lending to the private sector, […]
Tag: Mortgages
Where do banks see mortgage rates in 2023?
Of Leonida Stergiou The period from the first increase of the ECB interest rates in July to the second in September is crucial in order to determine the response of the markets and to complete the revaluation of the risk of Greek bonds. Banks and investment firms estimate that the ECB’s uptrend is expected to […]
The increase of interest rates on mortgage loans has started
Of Leonida Stergiou Banks have started small increases in fixed mortgage rates, with the first adjustments already appearing on their websites. The increases range between 20 and 40 basis points, depending on the duration of the fixed interest rate, and mark the first cycle that is expected to be completed by the end of the […]
At 64% of the commercial value the average mortgage
By Leonidas Stergiou The mortgage market may have been moving at an annual rate of over 30-40% over the last three years, however, disbursements are still low, as total one-year disbursements range from the mediocre to bad months of the past decade. . On the other hand, only 6% of new mortgages cover 100% or […]
Borrowers choose fixed rate mortgages
By Leonidas Stergiou According to the provisional data of the banks, since the beginning of the year until today, mortgage loans of more than 300 million euros have been disbursed, of which more than half are connected with a fixed interest rate for the whole period. This trend had started in the middle of last […]
There is an increase in interest rates on mortgages – The reasons
By Leonidas Stergiou This is probably the last time we see mortgages with floating interest rates around 2.5% and fixed interest rates around 3%. Already, the 3-month euribor, with which the majority of Greek banks’ mortgage loans are linked, has increased by 0.15 percentage points since the beginning of the year, ie from -0.57% to […]
Banks are easing the criteria for granting mortgages
Demand for mortgages rose in the first quarter of the year, but to a lesser extent than expected. This emerges from the investigation of bank lending carried out by the Bank of Greece. According to the research data, the criteria for granting mortgage loans are expected to become somewhat more relaxed during the second half […]
New program of state support for loans for the housing of vulnerable households
The Ministry of Finance announces the creation of a new program for the State support of the first home loans of vulnerable households. Specifically, the program provides a state subsidy for the mortgage installment of vulnerable debtors in the amount of 70 to 210 euros per month, depending on the composition of the household. The […]
BoG: Demand for business and mortgage loans increased in the fourth quarter of 2021
The total demand for business loans increased to a certain extent in the fourth quarter of 2021, as well as for mortgage loans, while the demand for consumer loans remained unchanged, according to the Bank of Greece data on bank loans during this period. At the same time, the criteria for lending to non-financial corporations […]
Britain: Bank mortgages rise in December despite Covid
British banks approved much more loans than expected in December, according to the Bank of England, which underscored the strength of the housing market after the lockdown and strengthened the indications of only a small blow from Omicron. The BoE said 71,015 mortgages were approved in December, up from 67,859 in November and higher than […]