PM Orban: Government freezes retail mortgage interest rates for six months
The government is introducing a six-month freeze on the interest rates of retail mortgage loans, Hungarian Prime Minister Viktor Orban announced on social media.
Taking effect in January, the measure will fix interest rates on retail mortgages at end of October levels, making the monthly instalment due in February already at the new, lower rate, the Hungarian premier said in his brief video message.
Hungary must keep moving forwards, not backwards, the PM underlined. In talking about Wednesday’s cabinet meeting, he mentioned inflation as chief topic.
“The whole of Europe is suffering because energy prices are rising. Hungary is defending against this and protecting families. We are raising the minimum wage and pensions, preserving the scheme to cap utility bills, and have introduced a cap on fuel prices,”
Mr Orban concluded.