Mortgage broker De Hypotheker reports this. Particularly for mortgages without a National Mortgage Guarantee (NHG), ie above the limit of EUR 325,000, interest rates fell again, partly due to stiff competition from providers.
According to the mediator, they are currently mainly targeting buyers who purchase a house without an NHG. That is because most houses that are now sold without NHG are sold.
This is again a result of the sharp rise in house prices. Last quarter an average house cost 410,000 euros, real estate association NVM announced two months ago.
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‘Soon below 1 percent’
For a 10-year fixed-rate period with NHG, the average interest rate last month was 1.01 percent. De Hypotheker even expects that rate to fall below the magical limit of 1 percent soon.
Due to the tightness in the housing market, mortgage providers will continue to compete with each other, CEO Michel van den Akker of De Hypotheker expects. The number of mortgage transactions is decreasing, and providers do not want to lose their place in the market, so they offer (very) low rates.
All fixed-rate periods cheaper
If you want to fix the interest for longer than 10 years, you will also see lower rates. With a mortgage where you fix the interest for 20 years, you now pay an average of 1.36 percent interest.
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For a mortgage where you have 30 years of security, the average interest rate is 1.57 percent.
‘Longer time low’
De Hypotheker expects interest rates to remain low for a while. Competition remains high due to the tight housing market, which means that the differences between fixed-rate periods are becoming smaller and smaller.
“We also expect central banks to continue their loose monetary policy, which will ensure stability in the financial markets,” says Van den Akker.
In this video, Roland Koopman explains why building additional homes in the short term does not offer a solution to problems on the housing market, and why low mortgage interest rates should be looked at:
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