As interest rates dropped over the last two years, the size of mortgages increased by 43%, to $25,000

As interest rates dropped over the last two years, the size of mortgages increased by 43%, to $25,000, the National Bank of Ukraine reported recently on Facebook. However, 87% of the loans were for secondary homes, largely dachas. Last fall, the average effective mortgage rate on the secondary market was 14.9%. On the primary, it was 18.2%. The new home mortgage subsidy program is reserved for first time buyers.