Slight Decrease in Mortgage Interest Rate in Cyprus
November 1, 2024
In September, the average mortgage interest rate in Cyprus decreased slightly to 4.53%, but it remains the highest in four years. Despite this reduction, depositors are still experiencing low returns, although there was a slight increase in deposit rates. Compared to previous years, the current rate is higher than it was last year. Changes in bank policies are beginning to show results, but the effects of the ECB's interest rate hikes continue to impact existing loan agreements.