Monthly installments on mortgage loans may increase by 9.5% in Romania

The average monthly installments on mortgage loans may increase by 9.5% compared to October if the three-month ROBOR (ROBOR 3M), the interest rate at which banks lend to each other in Romania, reaches 2.5%, according to the data sent by Vreaucredit.ro online platform, cited by local News.ro. For a loan of RON 270,000 (EUR 58,700), the customer currently pays an average monthly installment of RON 1,552 (EUR 337.5), according to Vreaucredit.ro. If the three-month ROBOR reaches 2.5%, the installment would increase by 9.5% to RON 1,699 (EUR 369). The three-month ROBOR rose to 1.88% yesterday, a new record of the last three years. In November 2014, the 3-month ROBOR amounted to 1.84%. The rate has more than doubled since the beginning of September, when it stood at 0.9%. editor@romania-insider.com