For future buyers or builders, it’s a race against time: they see mortgage rates rising rapidly and, in some cases, also real estate and construction prices. But for those who have already taken out a mortgage in recent years, the new economic situation is generally favorable, says the National Bank in its annual report.
Why is this important?
Will owning your own home soon become an unattainable dream? Affordability has deteriorated considerably in a short time.In the news : The National Bank notes that buying a home is becoming increasingly difficult for families. This is mainly due to the rapid rise in mortgage rates, a consequence of the sharp increases in interest rates by the European Central Bank.
- “The repayment burden of an average new mortgage has risen sharply in a short period of time. The average repayment burden is back to the record high before the financial crisis.
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