Mortgage Load Index


At the end of the third quarter of 2011, the Mortgage Load Index (IOH) prepared by Dom Kredytowy Macbeth increased by 0.29 pp and amounted to 38.63%. This means that a statistical Polish family had to allocate even more of their income than 3 months ago for servicing the loan for the purchase of real estate on the primary market. Also the data for the next month show that the value of IOH is increasing. In October, the index increased by another 0.11 pp

The Mortgage Debt Index values ​​

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Are particularly important for people planning to buy real estate and take out a loan. Readings in the following months show how much of the family’s net income must be allocated to servicing the new loan commitment.

It is worth recalling that in accordance with the current Recommendation T of the Polish Financial Supervision Authority “the maximum level of the ratio of expenditure related to servicing credit obligations to the average net income achieved by persons obliged to repay the debt should not be higher than 50% for retail clients with a net income not exceeding the average level remuneration in the economy, in no case should it be higher than 65%. “

What decided about the changes?

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In the analyzed period, the increase in the Mortgage Load Index (IOH) calculated for the 8 largest Polish agglomerations was mainly determined by the change in interest rates on loans. During this time, we observed an increase in total interest rate on loans by an average of 0.11 pp, which was due to both an increase in the WIBOR reference rate and a slight increase in loan margins.

The value of the index was also negatively affected by changes in the level of remuneration. The average gross remuneration in the enterprise sector also decreased, on average by PLN 45 to PLN 3,528.87. Negative changes in the two components of the index (interest and remuneration) were somewhat offset by declines in property prices. The average offer price per square meter of a 55-square-meter flat has fallen by PLN 160 since June.