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The interest rate is frozen - but for how long?
The interest rate is generally determined through an auction at which the lowest bid interest rate wins — but it doesn't have to be.
The interest rate on a 30-year fixed-rate mortgage is 6.625% as of December 19, which is 0.250 percentage points higher than Friday.
The interest rate was decreased from 8,5 % to 8.00%, the lower limit of the interest corridor was decreased from 7.0% to 6.5%, and the upper limit of the interest corridor was decreased from 9.5% to 9.0%.
Source: https://en.apa.az/finance/central-bank-of-azerbaijan-lowers-interest-rate-420153