With interest rates continuing to change, here’s what’s happening with mortgages now. According to some, we are one step away from crisis
The real estate market It has been in turmoil for a few months now and house prices are again rising alarmingly. There was an increase (about 53% more) in variable rate mortgage applications compared to the previous quarter.
because of the decision of European Central Bank to raise me interest rates And by 0.25% from July, variable mortgage loans will be particularly affected by the fallout that has attracted the interest of many. Here’s what could happen.
Mortgage Prices Are Rising, Here’s What Could Happen
If in the past there was a fairly calm and stable period, now there has been a change in the overall picture of Mortgages and loan applications to pay installments. In fact, with a loan of about 200 thousand euros set in 30 years price from installment It can be up to 23 euros per month.
The fixed rates, Moreover, they are interested in a strong and decisive rise in prices. Always taking into account a specific loan in the amount of 200 thousand euros for the purchase of an apartment in the capital, the rates have suffered growth until the 2.38% June for a 20-year loan, respect by 1.70% last April. The number goes up to 2.53% For a 30-year loan.
According to his research Alma Laboris Business SchoolIn fact, we’re seeing a sharp increase in expenses related to getting a fixed-rate mortgage, compared to the expenses that were projected two months ago.
In fact, you have to spend some time 65 euros more per month compared to the monthly payment referring to the month of April for a 20-year mortgage. Numbers that, even in this case, grow against a 25-year mortgage (75 euros more(and for a 30-year loan)78 euros more).
According to Dario Numeroso, director of the Alma Laboris Business School, the trend among Italians is to take out a mortgage. fixed exchange ratewhich is still preferred.