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Polish mortgage rates rise as refinancing surge meets new loan rules
Polish monetary authorities are urged to keep interest rates unchanged through the end of the year, with the RPP panel warning against premature cuts. At the same time, a wave of mortgage refinancing is reshaping the housing market: roughly one‑third of new mortgages now consist of borrowers switching banks to secure lower rates, a share that peaked above 35 % in April and May.
Banks have responded to shifting demand by lifting the rates on fixed‑rate mortgages, with some institutions raising them by as much as 0.51 percentage points. The average rate on new loans has slipped below 6 %, down from the 7‑8 % levels seen in 2023‑2024, offering borrowers modest savings but also higher costs for those locked into higher‑rate contracts. A forthcoming regulatory shift will replace the longstanding WIBOR reference rate with the new POLSTR index for all new mortgage agreements from 2027, while existing contracts may continue using WIBOR until 2036.
Lenders also stress that a borrower’s repayment history is only one factor in loan approval. Credit assessments now weigh income stability, debt‑to‑income ratios and other financial indicators alongside past payment performance.
Entities
Adam Glapiński · BPS · Credit Agricole · ING Bank Śląski · Jarosław Sadowski · Marek Wielgo · National Bank of Poland · POLSTR · Rankomat · VeloBank
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Banks have raised fixed‑rate mortgage interest rates by up to 0.51 percentage points, e.g., ING increased rates by 0.51 pp. biznes.interia.pl
- [○ 1 SOURCE] From 2027 new mortgage contracts in Poland must use the POLSTR reference rate, while WIBOR can be used in existing contracts until the end of 2036. www.fakt.pl
- [○ 1 SOURCE] The average interest rate on new Polish mortgages is currently below 6 %, down from 7‑8 % in 2023‑2024. biznes.wprost.pl
- [○ 1 SOURCE] Loan approval decisions consider repayment history together with income level, debt‑to‑income ratio and other financial indicators. dampozyczke.pl
- [○ 1 SOURCE] Refinancing now accounts for about one‑third of new Polish mortgage loans, exceeding 35 % in April‑May. biznes.wprost.pl
- [○ 1 SOURCE] Polish Monetary Policy Council (RPP) is advised not to cut interest rates before the end of the year.