Average mortgage interest rate down to 5.02 percent - Overdraft interest rate charges rose 0.33% to 10.89% in August
The average index-linked mortgage interest rate
fell 0.04 percent to 5.02 percent in October,
from 5.06 percent in September, according to an
analysis of bank data by the Bank of Israel.
The current mortgage interest rate is still 0.88
percent higher than a year ago.
The highest average index-linked mortgage interest
rate in October was for long-term loans of over
20 years, at 5.19 percent, while the lowest average
index-linked mortgage interest rate was for loans
of 5-12 years, at 4.79 percent.
The Bank of Israel also reported that overdraft
interest rate charges rose 0.33 percent to 10.89
percent in August, while interest payments on
current accounts rose by only 0.01 percent to
1.15 percent. As a result, the interest rate gap
-- the difference between interest rates on deficit
and credit balances -- widened by 0.19 percent
to 4.34 percent in August. |
