Finance
Polish Demand for Mortgages Surges to 2008 High on Iran Risks
Homes in front of the Vistula River, the Swietokrzyski Bridge, and the PGE National Stadium, in the old town area of Warsaw, Poland.
Photographer: Damian Lemański/BloombergThe war in Iran has sent demand for mortgages in Poland to an 18-year-high as loan seekers sought to lock in borrowing rates amid risks that a spike in inflation could lead to an increase in interest rates.
More than 63,000 people applied for home loans in March, up 42% from a month earlier and the highest level since 2008, according to a report by the credit information bureau BIK. The increase came as the central bank cut interest rates last month and switched to a wait-and-see stance regarding further changes amid new inflation risks from the Iran conflict.