As early as last summer, experts predicted that record low interest rates and APRs would decline. However, ever since, better and better loans are appearing.
International trends spill over
One thing is certain, we are still on the verge of increasing credit. Inflation has already begun in Hungary – that is, prices are rising – but the National Bank has not yet begun the interest rate hike cycle. When this will happen will depend on the decision of the Sampaguita Bank.
The international interest rate environment has also been steadily tightening for three quarters of a year, and as a result , an increase was expected by September 2018 . But that hasn’t happened since then – but practically any time you can start adjusting to trends. The move of the MNB would obviously mean that the current cheap loans would disappear.
Record low mortgage rates
How long have the THMs gone? Currently, UniCredit Bank’s 3.9% 10-year mortgage is the best on the market.
Previously, it was inconceivable that mortgages for a period of 20 years could be taken at an interest rate of 5.39%, thus maximizing security and minimizing costs. It has to be added that real estate prices have been cut, so the majority of people do not have easy access to housing today. But there are also offers on personal loans below the 10% interest rate. Cheap loans also need to be considered
All of this means that it is definitely worth borrowing today because it is easy to repay – and experts are clearly predicting an increase in loans in the future.
You also need to get a good loan smart
Don’t want to take out a new loan, don’t have a goal right now? Even if you have an older credit, you should take the opportunity. New constructions are perfectly suited for redemption. Banks also realized in the last quarter of 2018 that many people are exploring this opportunity, so these loans are now outright favorable.
According to experts, the first step in choosing a loan is choosing the installment payment, and once you have the repayment level that can fit into your financial situation, it is worth looking at the 2-3 best deals.
Let us not omit the possibility of early repayment, that is, let us look at the conditions involved and, as we know, ‘advance’ the credit.