Housing loan rates up, consumer rates drop

Housing loan rates rose in October, the Central Bank (CBC) said on Wednesday, as consumer loan rates dropped for the first time since June.

The floating rate increased to 4.88 per cent from 4.86 per cent, the regulator said, while interest rates on consumer credit dropped to 7.14 per cent from 7.17 per cent the previous month.

Rates for business loans of up to one million euros also dropped – 6.44 per cent from 6.47 per cent – while those for over a million rose to 6.16 per cent from 6.10 per cent.

 

 

 

 

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.