MILANO – Sign of recovery for the demand for mortgages by Italian families, returning from months of dreams of buying a house shattered by rising interest rates which made financing conditions prohibitive for some.
A reversal of trend is reported by Crif, which in the first quarter of the year saw a change in direction with a +1.9% in mortgage demand compared to the same period of 2023.
The credit information company also underlines that the trend seems to be accelerating: if we consider the month of March alone, the demand for mortgages reaches +6.9%, “a clear sign of a more favorable market situation”.
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On the other hand, for a few months now the costs of financing, in particular for the fixed rate, have started to fall: the prospect of a cut in the cost of money – although gradually postponed by the strength of the American economy – has been brought forward from the IRS indices, which are the reference point for mortgages with constant repayments.
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Another confirmation can be found in the Crif data, which is that of a market that is gradually moving more and more towards energy-efficient properties.
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“In this first quarter of the year we are starting to see the effects of the European Directive EPBD (Energy Performance of Building Directive), which, as an objective, has to progressively reduce greenhouse gas emissions and energy consumption in buildings by 2030″, comments Simone Capecchi, executive director of Crif, in a note. “In this regard, credit institutions already offer subsidized rates for new mortgages, be they requests for subrogation or highly energy efficient properties”. Just a couple weeks ago, Telemutuo’s reconnaissance said that green mortgages allow you to obtain a spread reduction of 0.35-0.45% compared to the traditional discount of 0.10%.
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Returning to the Crif data, after years of continuous growth, also given the increase in interest rates operated by the ECB, the average amount requested remains almost stable (-0.8% in the first quarter of 2024 and +0.3% in March 2024 compared to the same periods of 2023), with a value of 144,213 euros in the first quarter of the year.
For Capecchi, “market forecasts set a lowering of rates for June 2024, and this scenario will further relieve borrowers, reducing pressure and helping to stabilize the financial situation”.
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– 2024-04-30 10:04:44
