Money, inflation, increasing interest rates are some very commonly heard words. In most of the countries of the world, interest rates are really high and one cannot think about buying a house or a car. Interest rates are very important, as they decide the monthly mortgage, one has to pay. We are mentioning few countries here, which have lowest mortgage rates in year 2018.
1. Switzerland: Switzerland has lowest interest rate in the world, which means the mortgage rates are also lowest here. The interest rate in Switzerland is actually negative, which means you can mortgage a house at cheapest rates. The interest rate in the country is – 0.75%.
2. Denmark: Denmark also have negative interest rates, like Switzerland. It means that if someone borrows money from the bank, he has to pay no service charges to bank. The interest rate is – 0.65%, which reflects that mortgage rates are very cheap here.
3. Sweden: Third in this row is the Sweden, which also have negative interest rate, which is – 0.10%. so, if you are looking for low mortgage rates, Sweden is one of the best choices.
4. Japan: Japan also have interest rate in negative, which is – 0.10%. Japan has lowered the interest rate by -20, in 2016. The currency of the country is not very high, but its stable enough to provide strength to the economy.
5. Bulgaria: Since 2016, Bulgaria has 0.00% interest rate, and the mortgage rates are also very low in the country.
6. Czech Republic: interest rate in Czech is 0.05%, which is one of the lowest and it’s so since long. People are enjoying low mortgage rates in the country.
7. Israel: Israel lowered interest rates in 2015 from 0.25% to 0.10%, which reflects the lowest mortgage rates as well.
These are just the few countries with lowest mortgage rates in 2020.