Polish banks raise mortgage rates, increasing costs for borrowers

Several Polish banks lifted the interest rates on fixed‑rate mortgages despite the policy rate remaining unchanged. ING increased its rate by 0.51 percentage points, Velobank by 0.29 points, Credit Agricole by 0.25 points and BPS by 0.34 points. Analysts note that even a modest 0.5‑point rise adds roughly 161 PLN to the monthly payment on a 500,000‑zł loan, translating into about 9,600 zł extra over five years. The sudden increase catches borrowers off‑guard, as the time between choosing a bank and finalising a loan can span one to two weeks, during which offers may change significantly. The volatility is linked to broader market shifts, including geopolitical developments and bond‑yield movements, making the timing of mortgage applications more uncertain for consumers.