January 30, 2023

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Mortgage rates fall for the fifth straight week |  Economie

Mortgage rates fall for the fifth straight week | Economie

Mortgage rates have been cut for the fifth consecutive week. In particular, interest rates for those who want to fix long-term mortgage interest have fallen relatively quickly.

The discounts are nice for homebuyers. Interest rates have increased since the beginning of the year: from 1 to 2 percent in January to 4 to 5 percent at the end of October. Interest rates drop somewhat only in the summer months.

Rates have fallen again for about a month, according to an overview by Van Bruggen Adviesgroep. For example, an average mortgage interest rate of 4.32 percent applies to those who want to fix the interest rate for ten years on an NHG security. This is 0.07 percentage point lower than the previous week and 0.22 percentage point lower than the end of October. Mortgage interest fix also got a lot cheaper for twenty or thirty years. This was a decrease of 0.08 percentage point in a week.

Van Bruggen expects further cuts. “With current market conditions, it is very difficult to predict how fixed mortgage rates will develop in the coming months. But in the coming week, it looks very likely that the downward trend will continue.”

The variable interest rate will increase. In the past five weeks, for example, it has increased by at least 0.5 percentage points. This is because the variable rate of interest on a mortgage is closely linked to the interest rate policy of the European Central Bank (ECB).

The latter has raised interest rates several times in recent months and an increase is expected to be added this month. As a result, the variable rate of interest on the mortgage goes up.

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