Mortgage Loans Surge in August
Date: 2023-10-17 Author: Dima Zakharov Categories: ECONOMY
According to the latest data obtained from the monthly survey on mortgage loans, there was a notable increase in both the volume and quantity of mortgage loans issued in August compared to July. The volume of loans provided to the public increased by 2.6%, while the number of loans issued rose by 3.6%. The continued driving force behind the mortgage sector remains the favorable lending terms offered within the "єОселя" program, as stated in a press release by the National Bank of Ukraine.
In August, five banks reported the issuance of new mortgages, primarily for the purchase of secondary-market real estate. The weighted average effective interest rate for mortgage loans in August saw a slight uptick, rising to 8% from the previous rate of 7.9% in July.
Breaking down the regional distribution, the majority of mortgage loans in August were issued in the city of Kyiv and the Kyiv region, accounting for 270 contracts with a total value of 443.9 million hryvnias, which constitutes 49.3% of the overall loan volume. Other regions with notable mortgage loan issuance include Chernihiv (41 contracts totaling 52.5 million hryvnias), Vinnytsia (35 contracts at 51.1 million hryvnias), and Rivne (40 contracts amounting to 50.9 million hryvnias).
In August, five banks reported the issuance of new mortgages, primarily for the purchase of secondary-market real estate. The weighted average effective interest rate for mortgage loans in August saw a slight uptick, rising to 8% from the previous rate of 7.9% in July.
Breaking down the regional distribution, the majority of mortgage loans in August were issued in the city of Kyiv and the Kyiv region, accounting for 270 contracts with a total value of 443.9 million hryvnias, which constitutes 49.3% of the overall loan volume. Other regions with notable mortgage loan issuance include Chernihiv (41 contracts totaling 52.5 million hryvnias), Vinnytsia (35 contracts at 51.1 million hryvnias), and Rivne (40 contracts amounting to 50.9 million hryvnias).
