Years of dirt cheap borrowing seem to be over: housing loans have been more than half more expensive since the beginning of this year

At the beginning of this year, the average interest rate for a 20-year loan with a fixed interest rate was still about 1.5 percent. Mortgage interest rates had been maintained at that low level since the start of the corona crisis. Today, interest rates fluctuate around 2.3 to 2.4 percent, depending on the percentage of the total purchase amount you want to borrow (the “quota” in banking jargon). This means that loans have become more than half more expensive in a few months.

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