Mortgages, new sting: how long the increases will last and what to do to limit the damage
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Mortgage increases
From July 2022 the cost of money increased by 400 basis points, going from zero to 4%. With a new adjustment of 0.25% the reference rate of the Eurozone went from the 3.75% decided in the meeting of May 4th to 4% on June 15th. The decision taken by the ECB on the subject of monetary policy cannot fail to have repercussions on market rates. According to Fabi, for a 150,000-euro loan with a duration of 20 years, the monthly payment will soon rise to 1,090 euros, 325 euros more (+63.9%) than what would have been obtained a year ago or 665 euros. According to the estimates of Only 24 Hours if in June 2022 the installment of a 140 thousand euro mortgage, with a 25-year maturity against a 200 thousand euro property cost just under 500 euro, now we are at 750. And we should get close to 800 towards November, with an increase of more than 60%.
Jun 23, 2023
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