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In Poland, the average interest rate for newly issued housing loans is 7.83%, according to the European Central Bank. This is the highest rate in the European Union.
Poland has long been among the leaders in high mortgage rates, previously competing closely with Hungary, which has recently reduced its rates. Hungary's current rate is around 6.73%, while Romania's is 6.56%.
The high rates in Poland are attributed to the National Bank of Poland's current stance on interest rates, which has remained unchanged since October 2023.
Despite low inflation, high rates persist. Additionally, banks' higher margins and expectations of increased demand for loans contribute to these elevated rates. The central bank anticipates a slight tightening in credit policy, possibly reflected in the recent rate increases.
