In Lithuania, fixed minimum interest rates for housing loans

In Lithuania, fixed minimum interest rates for housing loans

In June in Lithuania fixed minimum rate of interest on mortgage loans since October 2004 – 3,1%. Rate decreased by 0,7 percentage points since the beginning of this year.

At the highest level, according to the Central Bank of Lithuania rate was in October 2008 – 6,47%.

The amount of loans for house purchase is over rates of previous year. Moreover, for more than two years the number of transactions on the property market was growing.

According to forecasts of the commercial banks next year is expected the increase of bank issued mortgage loans, due to lower interest rates.

Source: http://www.profi-forex.org/news/entry1008134157.html