Thursday, January 29, 2015

Homeowners in Poland Borrowed in Swiss Francs, and Now Pay Dearly

Poles borrowed in loans denominated in Swiss francs, but they have to pay back the loans on the local currency, the zloty. With the franc appreciating against the Euro, payments on Polish mortgages are skyrocketing.

And they thought the low rates on the Swiss loans, with a "stable" currency, was such a good deal.

At the New York Times, "Swiss Franc Rises, and Poland’s Mortgages Go With It."