Slovakia’s mortgages are euro zone’s second-cheapest

The average euro zone mortgage interest rate fell to an all-time low of 1.36% in November, a welcome stimulus to households. Slovakia’s rate, 1.05%, is the euro zone’s second-lowest. The recession and rising default rates may push mortgage rates up, and central banks may try to prevent rising real estate prices by curbing lending. The easy European Central Bank policy is pushing corporate lending rates down, too; in November, the average rate stood at 1.5%, close to an all-time low.

(nbs.sk)