Housing
Over 12,000 Euros More for Mortgages Due to Rising Interest Rates: 'And This Will Continue for a While'
Mortgage interest rates are breaking records, with ten-year fixed rates rising from 3.65 percent last year to 4.38 percent now. A starter mortgage of 375,000 euros taken today costs nearly 12,400 euros more over ten years compared to earlier this year. Experts predict rates may reach 4.5 percent in 2027 or even approach 5 percent due to geopolitical tensions and inflation concerns. While house price growth has slowed to 3.3 percent annually, high borrowing costs reduce purchasing power, thereby lowering price pressure on the housing market.
Ozetta summarises; the reporting is the newsroom's