2024-01-22 11:37:36
Banks and other lenders have further reduced mortgage interest rates in recent weeks, according to figures from Van Bruggen Adviesgroep. However, the biggest declines appear to be behind us for the time being.
For example, the rate for those who want to fix the interest on their NHG mortgage for ten years fell by 0.02 percentage points last week to 3.78 percent. The declines were significantly greater in the weeks before.
Other popular interest rates, such as fixed rates for five or twenty years, also fell less sharply last week. These rates fell by 0.03 and 0.01 percentage points respectively. Some lenders have even cautiously increased their interest rates once more.
They do this because interest rates on the financial markets have also risen. There, banks themselves borrow money from investors, for example. And if the banks have to pay more interest for this, they pass it on to their customers, such as home buyers.
That has been different in recent months. Then mortgage rates fell for eleven consecutive weeks. For example, in October you still paid 4.5 percent if you wanted to fix your interest rate for five years. That is now more than 0.75 percentage points lower. That may seem like a small difference, but it might save you thousands of dollars.
Van Bruggen thinks that the chance of a further reduction in mortgage rates in the near future is not that great. This is related to the interest rate policy of central banks. They will only lower their interest rates when inflation is under control. But due to the unrest in the Middle East, oil prices threaten to rise, which might also cause inflation to rise once more.
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