site.btaMortgage Rates Will Grow, Won’t Impair Bank Portfolios, Clients’ Creditworthiness
In the next one to two years mortgage rates may return to normal levels, reaching 3.5%. However, the higher rates won’t affect the quality of loan portfolios and clients’ creditworthiness, forecast UniCredit Bulbank Christofor Pavlov at a forum, “The Future of Money”, at Sofia’s Inter Expo Centre, organized by Manager magazine.
Process for adjustment of interest rates in Bulgaria are underway. Pavlov said that interest rates for the corporate sector and consumer loans are at the levels at which they should be, but mortgage rates are slow to return to normal.
The slower adjustment could be explained by the relation between mortgage rates and the rates on interbank deposits.
/PP/
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