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This is a list of countries by a simple average of commercial banks' annualized interest rates charged on new loans to their most credit-worthy customers. Each entry is denominated in the respective national currency. [1]
In 2014, commercial lending represented just 5.2% of overall gross mortgage lending by volume, but 25.3% by value. The average commercial mortgage in this year was £1.46 million, compared to the average residential mortgage of £236,400. [4]
Bankrate tip. To compare a loan that uses a factor rate to one with an interest rate, you can convert the factor rate into an interest rate — or simply compare each option’s final total cost.
A mortgage point could cost 1% of your mortgage amount, which means about $5,000 on a $500,000 home loan, with each point lowering your interest rate by about 0.25%, depending on your lender and loan.
Some short-term loans will also charge a factor rate instead of an interest rate. Factor rates are decimals that get multiplied by the entire loan amount upfront, such as 1.10 or 1.50.
Country or currency union Central bank interest rate (%) Change Effective date of last change Average inflation rate 2017–2021 (%) by WB and IMF [1] [2] as in the List Central bank interest rate
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