This March saw mortgage interest rates at historic lows as many banks sought to break the 2% mark. Unicredit, Expobank, Equa bank, and Raiffeisen are just some of the major players that lowered their rates this quarter. This decrease in interest rates by major banks puts pressure on remaining financing entities to keep their rates low as well in order to stay competitive.
According to a statistical average across all banks, a 70% loan with a 5-year fixation period decreased from 2.10% to 2.03% in the month of March alone. Even interest on 100% LTV financing has seen sharp decreases which is a surprise to many financial experts who expected banks to raise the interest rates for 100% LTV specifically.