Luxembourg banks continued to raise rates in February. Here’s what to expect for a home loan.
Luxembourgers have not finished having cold sweats with the surge in interest rates. According to the Luxembourg Central Bank, the cost of mortgage loans increased further in February.
According to his report, banks granted variable rates reaching an average of 3.53% for the purchase of a home. Against 3.51% in January. That is to say a quasi-stabilization for the beginning of the year.
The fixed interest rate on mortgages has risen sharply to 3.77%. even much more on loans with a very long duration, over 30 years for example.
This rise in rates on mortgage loans is combined with a general fall in property prices, of which “the peak has been reached”.
Regarding the rate of consumer credit, the February average is estimated at 3.82%.