Mortgage rates remain high in Hungary

The composite home loan rate across the eurozone fell to 1.65 percent in June, the lowest it’s been since records began in 2000, according to the National Mortgage News. In Hungary, mortgages are higher, because regulators steered almost all borrowers away from cheaper and less-secure floating rate loans. The 10-year fixed rate mortgage is currently about 5 percent. “The attraction of security was heightened by memories of a fashion for mortgages taken out in Swiss francs before the financial crisis. The subsequent plunge in the forint against the franc hammered as many as 1 million Hungarians,” writes the National Mortgage News.