Belarusbank Slashes Mortgage Rates for New Constructions
Belarusbank has surprised the market by slashing its mortgage rates, offering new constructions a significant discount. The move comes amidst fluctuations in currency exchange rates.
The bank has reduced its mortgage rates to 13.75%, a substantial drop from the previous 16.65%. This unexpected cut applies to four specific mortgage products for new constructions only, until October 31. The rate for 'secondary' housing remains unchanged at 18.5%.
Meanwhile, the Belarusian ruble has strengthened against most major currencies following trading on the BVFB. The yuan dropped by 4.13 kopecks, the Russian ruble gained 0.95 kopecks, and the dollar fell by 2.07 kopecks against the Belarusian ruble.
Belarusbank's mortgage rates reduction is a notable development in the housing market. While the ruble has shown strength against major currencies, the yuan's drop and the dollar's fall may impact future economic trends.
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