Europe

Rising fixed mortgage rates

Banks are raising fixed rates on new mortgages by up to 0.5 percentage points, incorporating the upward trend in the cost of money into their interest rate list, taking into account the rising interest rates of the European Central Bank.

Last week, National Bank raised all maturity fixed rates from 0.20 to 0.50, while Alpha Bank will begin applying the new fixed rates raised from July 4th to 0.40. Eurobank has already begun adjusting fixed rates since mid-May, and Pizzeria does not rule out new increases while preparing to adjust interest rates.

Therefore, the 10-year fixed interest rate of the National Bank based on the new interest rate announced by the National Bank will rise to 3.30% or 3.70% (from 2.80% or 3.30% until recently), and the 15-year interest rate will be 3.55. .. % Or 3.95% (from 3.15% or 3.65%), 3.80% or 4.10% (from 3.35% or 3.85%) in 20 years, etc.

Similarly, Alpha Bank’s fixed rate for the first five years will rise from 2.80% to 3.20% today from next month, the 10-year fixed rate will rise from 3% to 3.40%, and the 15-year fixed rate will rise from 3.20 to 3.60%. To do. The 20-year rate will increase from 3.40% to 3.80%, but if you raise more than 60% of the real estate estimate, the interest rate will increase by 0.20%.

Eurobank has a fixed interest rate of 2.90% for 3 years, 3.10% for 5 years, 3.50% for 10 years, 3.70% for 15 years, 3.90% for 20 years, etc., but Pizzeria is currently fixed. The interest rate is applied from 2.95% to 4.35% in 30 years, which is also expected to increase.

Bank executives explained that rising interest rate swap rates surged nearly 2.40% in 10 years, increasing the cost for banks to fix long-term fixed rates such as 10, 20, and even 30 years. I am. However, even after the recent hike, current fixed rates are still seen as an “window of opportunity” for those who want to secure a low tranche over the long term, as interest rate hikes in this category can reach up to 1 percentage point. increase. By the end of the year.

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https://www.ekathimerini.com/economy/1187196/rally-of-fixed-mortgage-rates/ Rising fixed mortgage rates

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