Installments down even PLN 700. The expert advises whether it is worth waiting with the loan
MEP members, headed by Adam Glapiński, will probably decide on Wednesday about a reduction in interest rates. In principle, only the scale of cutting remains unknown. However, it can be assumed that the loan installments will start to fall soon. The market can already see it.
We decided not only to check what the perspective of the coming months for thousands of Polish borrowers looks like, but also to find out whether in the face of cheap money it is not worth waiting with taking new loans.
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In April, WIBOR 3M fell by over 0.5 percentage points Six -month indicator even harder, because by nearly 0.7 percentage points They amount to 5.36 and 5.08 percent respectively This means that the market is almost sure of May discounts.
Economists' forecasts talk about a cut of 0.5 percent. The open question remains whether the MPC will decide to start a several -month cycle, or if, for example, it is limited to two cuts of 0.5 percentage points. in spring and autumn. This last solution was suggested at the last press conference by NBP Adam Glapiński.
Anyway, there are many indications that by the end of the year we can count on a decrease in the reference foot to levels below 5, and maybe even below 4 percent. Today, let's remind you, it is 5.75 percent. And it has not changed since autumn 2023.
Installments down today
Since WIBOR is falling, many borrowers are already received from the bank about the reduction in installments. The update – depending on the contract – takes place every three or every six months.
Compared to the situation from the beginning of April, the average loan installment for the amount of 500 thousand. PLN will drop by approx. PLN 200-300 per month. However, this is not the end.
The market sees not only what will probably happen at the current meeting of the MPC. It also provides for further loosening of monetary policy, thanks to which WIBOR It could drop even to 3.7 percent next year. And this automatically means lower installments by up to PLN 700-800 per month.
The thing is that lower interest rates, i.e. cheaper money, is not only a reduction in installments for those who already have loans. It is also a significant increase in creditworthiness for those who are just thinking about buying real estate with a mortgage.
Wait with a loan or not?
We decided to ask the expert if in such a situation it is worth waiting for taking a loan these few months, when Wibor falls to long -unseen levels and banks will be willing to lend more to customers more.
– It all depends on our current situation. If creditworthiness is a problem today, it's better to wait. In a few months we can be after a reduction by up to 1 percentage point, which will automatically increase the maximum amount of the available loan – explains Jarosław Sadowski in an interview with Business Insider Polska, director of the Analysis Department at Rankomat.pl.
An expert we ask Is it better to decide on a loan with a fixed rate in case of waiting, or rather stay with a variable. There is no universal answer here. Much depends on the specific case of the borrower.
– The variable is better reflected in the potential further reductions, but on the other hand the fixed rate will protect against possible increases. There is no single answer here. Especially that permanent feet can be refinanced, so you don't have to wait those five or ten years that we have included in the loan agreement – he explains.
Sadowski, however, pays attention to one more element. – We must remember that if we abstain with the decision to buy real estate while waiting for a cheaper loan, we are not alone on the market. Low interest rates can drive the demand again, and with it our dream apartment or house can be more expensive or simply disappear from the marketbecause someone will buy them ahead of us – he warns.
See also: Interest rate reduction. Such will be important for millions of Poles
– Today it is easier to negotiate with the developer, because there are no people willing for new apartments. And waiting can make the price increase and this way the increase will “eat” all the benefit of the lower interest rates – he adds.
However, there are cases when it is worth waiting. – If we are in such a situation that due to our creditworthiness we have to go for too many compromises when choosing an apartment, then it is worth waiting for our capabilities to be greater. But At the same time, it is worth following what is happening on the market, so as not to spit on your chin – jarosław Sadowski.
Author: Jakub Ceglarz, Business Insider Polska journalist
