A government decision to freeze retail mortgage rates until the end of next June could save Hungarian households 30 billion forints (EUR 81.3m), Csaba Dömötör, a Prime Minister’s Office parliamentary state secretary, said on Thursday.
The decision about the six-month freeze from January was announced by the prime minister on Wednesday. The interest rates on retail mortgages will be frozen at their end-October levels, meaning that the monthly instalment for February will already be lower than previous ones, Viktor Orbán said. Dömötör said that around half a million Hungarians have floating-rate mortgages. Without the measure, accelerated rate rises from October could have added 23%, or an average 11,000 forints, to borrowers’ monthly instalments, he said in a video message posted on the government’s Facebook site.
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