Concerns over Rising Interest Rates and Measures to Combat Costs of Mortgage Loans

Since the beginning of January, “I have reiterated on several occasions my concern about the increase in rates which has occurred at a very sustained pace” and the unforeseen consequences on the loans of Italian businesses and families. It is precisely with the aim of combating the high cost of mortgage loans that the Italian Banking Association is working with the Ministry of Economy to “find ways to extend measures that are not only lengthening measures , but also measures to reduce interest rates”. renegotiation or subrogationeverything possible within the strict rules that the European banking authority, the EBA, continues to impose on us”. This was reported by the President of Abi, Antonio Patuellion the sidelines of the ceremony of handing over the silver banner of the Regional Council of Tuscany.

There is obviously no problem for the 63% of mortgage holders who had “cautiously chosen mortgages at fixed rate with low rates”. As for the 37% of borrowers who instead chose what “seemed cheaper at the time but was more risky, the survey revealed that interest rates were very low. floating rate“There are many measures.

The problems arise for the banks who must obtain loans at a higher cost for loan repayments that remain unchanged.

Competition is the best tool to control prices

Patuelli then addressed the issue of inflation more generally.

He stressed the need to calm inflation expectations and therefore promote fair competition “because people come, and not just for tourism, and so competition is the tool the most efficient way to return to prices that are not so influenced by inflation”.

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