Ukrainian Mortgage Growth
Ukrainian banks have made twice as many mortgage loans for almost three times the amount of money during the first nine months of this year, the central bank reports in a year-over-year analysis. Through September, banks have issued 7,500 mortgage loans for a total of $230 million, reports the National Bank of Ukraine. The average loan is for $33,000 and the average interest rate is 13.5%. Most mortgages are going to the ‘secondary’ market, for existing housing stock.