The National Bank of Greece, the country’s largest, EFG Eurobank Ergasias, and Piraeus Bank announced yesterday lower mortgage rates, to take effect Monday. National Bank and Eurobank announced mortgage loans with a rate of 3.75 percent during the first year, and a variable rate henceforth (at present, 5.85 percent for National Bank and 6.25 percent for Eurobank). Eurobank also offers a mortgage loan with a fixed rate of 4.30 percent during the first two years, following NovaBank’s lead, which has already offered a loan with similar terms. Piraeus Bank’s variable-rate loan, with a 5.5 percent actual rate, will be the market’s second-cheapest mortgage loan in its category, following Citibank’s 5.4 percent loan, which is tied to the European Interbank Offer Rate (Euribor). The new rates are the direct result of last week’s international round of rate cuts, including by the European Central Bank.