Pay attention to the mortgage, as in the course of 2022 there could be a worrying increase in installments. Here’s what’s going on.
The change in mortgage rates, both fixed and variable, which lead to change the amount of the installment to be paid. So let’s go into the details and see everything there is to know about it.
Unfortunately, the last two years have been marked by a whole series of events that continue to have a negative impact on our lives, both socially and cheap. Starting from Covid, passing through the possible repercussions of the ongoing conflict between Russia and Ukraine, up to worrying general increase in prices, with increases of 43%there are many elements that end up reducing our purchasing power.
Being able to cope with the various expenses is becoming increasingly difficult and precisely in this context the change in mortgage rates, both fixed and variable, which lead to change the amount of the installment to be paid, with worrying increases. So let’s go into the details and see everything there is to know about it.
Mortgage, worrying increase in installments in 2022: everything you need to know
We have already invited to lend pay attention to the umpteenth sting on mortgages as there was a significant increase in rates and installments. Precisely in this context, as already mentioned, the change in mortgage ratesboth fixed and variable, which lead to change the amount of the installment to be paid, with worrying increases.
Already in March they registered increases by more than 2%, with monthly increases of the order of a few tens of euros on both fixed-rate and variable-rate mortgages. If all this were not enough, according to the latest estimates, i rates could continue to rise. Going into the details, fixed rate mortgages return to exceed 2%.
As reported, by way of example Business Online, for a mortgage of 180 thousand euros at 20 years with a fixed rate, the monthly payment can pass from 916 euros to 934 euros. In the case of a variable rate, however, it can pass from 806 euros to 812 euros. Also based on the latest estimates, further increases in the Euribor are expected by the end of the year.
A situation, the latter, which could lead to further increases also in the course of 2023. At the moment, however, it should be emphasized, it is only a question of estimates. All that remains is to wait and see how interest rates and consequently the mortgage payments will change over the next few months.