Cyprus Mortgage Rates fall to 9 year low

Mortgage rates in June dropped to their lowest level since 2007, according to the Central Bank of Cyprus. The interest rate on mortgages fell to 2.99%, from 3.09% in the previous month.
The figures showed that the interest rate on household deposits with an agreed maturity of up to one year remained unchanged at 1.49%, compared with the previous month.
The corresponding interest rate on deposits from non-financial corporations recorded an increase to 1.45%, compared with 1.34% in the previous month.
The interest rate on consumer credit decreased marginally to 4.47%, from 4.49% in the previous month.
The interest rate on loans to non-financial corporations for amounts up to EUR 1 mln increased to 4.23%, from 4.12% in May. The interest rate on loans to non-financial corporations for amounts over EUR 1 mln dropped to 3.76%, from 3.84% the previous month.

Source: http://www.financialmirror.com