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The rise in interest rates since January means immense burdens for borrowers. The comparison portal Check24 recently calculated that construction financing of more than 400,000 euros at an effective interest rate of 3 percent results in almost 79,000 euros in additional costs over ten years.
Recommendation: React quickly
Pekka Sagner, real estate expert at the German Economic Institute (IW), expects interest rates to plateau. Recently there have been clear exaggerations, he says. If the ECB raises further key interest rates, there are concerns about a payment crisis in highly indebted countries such as Italy Sagner believes that interest rates could fall further. »The thought that rising key interest rates automatically mean higher building interest rates is deceptive.«
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