Mortgage deals fall

Polish banks are lowering promotional mortgage rates as competition for borrowers intensifies. Bankier.pl’s July review shows ING Bank Śląski offering periodically fixed rates below 6% in selected mortgage promotions, with rates falling by 0.61 percentage points compared with the beginning of the previous month. 

The shift reflects a more competitive mortgage market as banks respond to weaker housing demand, lower inflation and expectations of a friendlier interest-rate environment. For buyers, the change improves affordability at the margin, though high property prices and strict creditworthiness checks remain major barriers. For developers, cheaper loans could help revive demand, but probably not enough to restore the boom conditions seen during earlier subsidy-driven cycles. 

Source: bankier.pl