VÚB raises mortgage interest rates

VÚB, Slovakia’s second largest lender by assets, will increase its interest rate on mortgages by 0.2 of a point in March (its 3-year fix will go up from 0.89% to 1.09%). Even its lowest rate will be higher than 1% although the European Central Bank is still keeping its key interest rate at a record low of 0% and banks posted record profits last year. It is possible that other large banks will follow suit and Slovak interest rates on mortgages will rise from the current all-time low of 0.9%. VÚB argues that Slovak rates are among the lowest in Europe.

(dennikN.sk)