♦ But how is this increase in the IRCC in the Romanian rates transposed?
The IRCC index, used to calculate the interest rate interest, will reach 6.06% starting in October, after staying under 6% in the last three years. Although the evolution of the index is the effect of the entire wave of increases of the last period, compared to ROBOR it is still visibly stable, and even registering considerable differences in the periods in which Robor at 3 months had peaks exceeding 7%. In recent years, due to the uncertainties and consistent growth of interest in the market, much of Romanians have either refinanced their loans, or passed from ROBOR to IRCC, reaching over 400,000 people to have IRCC funding, approximately 191,000 Romanians still have a standard mortgage, the first and consumption. Thus, in order to have an image on the effect that this IRCC increase will have on the mortgage loans, ZF has requested a simulation to a brokerage company for a loan of 400,000 lei, over a 30 -year period, at the current level of 5.55%, but also for the level that will be from October 1 of 6.06% for the same credit. Thus, at a monthly income of 7,000 lei, the rate for the mortgage credit of 400,000 lei, for 30 years, with a bank margin of 2.20%, at an IRCC of 5.55%, so an interest rate of 7.55%, is 2,865 lei, while for the same credit, under the same conditions, but at an IRCC of 6.06%, up to 3.008 lei, up to 3.008 lei, meaning an interest rate in which the bank's margin is included, 8.26%. Therefore, the growth is about 5% of the monthly rate for this example of mortgage credit. Claudiu Trandafir, financial expert and credit broker, explained to ZF that, despite the IRCC growth, the market still offers advantageous solutions. «Although IRCC growth means higher costs for those with variable interest, the market also offers advantageous solutions. There are offers of fixed interest loans, even lower than the current level of IRCC, which means that refinancing can be an intelligent option for many debtors,» said Claudiu Trandafir.
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