Borrowers who take out the mortgage at the right time reap financial advantages. Why Wednesday is the best day to buy a home.
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the essentials in brief
- On average, interest rates are at their lowest on Wednesdays.
- With mortgages, pay attention to the term and type of mortgage.
- The combination of fixed-rate and money market mortgages brings the greatest advantage.
The days of the week also have an impact on taking out a mortgage. This was determined by the financial consulting company VZ in a study. Interest rates vary on different days of the week.
Interest rates are therefore lowest on Wednesdays. The interest rate applies to a fixed-rate mortgage over the entire term. And since this is an average of ten years, a well-timed degree can save a lot.
Mortgage interest rate applies at the time of conclusion
Also on the following Thursday, taking out a mortgage is still lucrative in terms of finances. The interest rate at the end of the contract always applies. Thus, the house can also be bought on other days of the week as long as the interest rate is dated to the cheapest day.
Wednesday is the right day to buy a house because of the favorable interest rate. However, many other factors play a role when buying a property. In addition to the interest rate, the term and type of mortgage must be taken into account.
Finances: Combination of fixed and money market mortgages worthwhile
It is also advisable to combine fixed-rate and money market mortgages. Good savings can be achieved in this way in conjunction with a suitable running time. A conversation with a financial advisor will bring clarity in any case.
Do you intend to take out a mortgage in the near future?
For mortgage borrowers, even the smallest difference in interest rates can make a big difference. The comparison is therefore also worthwhile apart from the days of the week. If the interest rates are particularly favorable on a Monday or Friday, a deal can be profitable in the long term.
