10/05/2022 15:59
The flare-up of inflation recorded in recent months and the conflict that broke out in Ukraine have had direct effects on interest rates applied on mortgages, making it more expensive for families to apply for a loan to purchase a property today. This was stated by Codacons, commenting on the Bank of Italy data according to which in March the interest rates on loans granted to households for the purchase of houses stood at 2.01% against 1.85% in February.
The market concerns are affected in particular by fixed rates – explains Codacons – While the Euribor, the reference index for variable rate mortgages, remained substantially stable between January and April, the Eurirs, the reference index of fixed rate mortgages, has undergone a real surge, passing, for example, for 20-year mortgages from 0.60% at the beginning of January to 1.69% at the end of April.
Those who take out a fixed-rate mortgage today for the purchase of their first home thus find themselves higher final rates than those who started a loan in January: the most penalized are those who take out mortgages at 30 years – again analyzes Codacons – Il higher final rate on this type of loan and the longer duration of the loan increase the gap, leading today a family that takes out a 30-year fixed-rate mortgage to spend a total of about 8,812 euros more than the same loan taken out at the beginning of January 2022 , only for the higher cost of the installments and without considering the other expenses (appraisals, practice fees, bank costs, etc.).