It’s official, there Bce has decided to further raise i rates bringing that on to 3.50%. refinancing3% to that relating to ai deposits and 3.75% to that on marginal loans. This will inevitably translate into an even greater burden on those forms of financing that many Italians use to make their purchases. Impossible not to think about the consequences on mortgages.
The sting and the risk of not being able to pay the installment
The sting up mortgages e loans, unfortunately, it served. After yesterday’s further tweak on rates, the cost of money rose to 3.5%, a level this high it hadn’t reached since 2008. Mortgages, especially variable ones, will become a risk for Italians’ pockets.
In commenting on the situation, Codacons spoke in no uncertain terms of a “sledgehammer”. And this is the common feeling. Many now families who fear they will no longer be able to pay rate of the mortgage.
How is the situation now
To date, there are 6.8 million households in debt, and 3.5 million have to pay installments. While on the one hand those who have a mortgage will be better protected fixed ratewho has resorted to the variable he is not sleeping soundly. As estimated by Fabisince the ECB started tweaking i rates, the installments of variable-rate mortgages grew by an average of 54%. To make a examplewhoever paid 500 euros now has to pay out 770. And that’s not all, because with this new increase of half a point foreseen for the March 22 the situation will get even worse.
The consequences they will also be seen on loans. Second Mutuisupermarket.italready now the Taeg of mortgages considered the best starts from 3.5% to reach 4.5%. It rises more than fixed mortgages, data around 3.8-4%, which have in any case grown compared to 1.8%.
According to Fabi, with the Euribor up by half a point, we will soon see variable rates which will rise from 0.6% recorded at the end of 2021 to 4.9%.
Problems for them too acquisitions a rate. If at the end of 2021 the average interest rate stood at around 8.1%, according to Fabi, the value could soon reach 11.9%.
At risk as well industry e investmentssince i loans companies will rise by more than 4%, causing serious consequences for the economy.
Deposits and bonds
If, on the one hand, mortgages increase, les do not remunerations that credit institutions offer to those who have entrusted them with money.
According to data provided by Abilast February the differential between the average rate on loans and that on funding from households and companies it reached 295 points (259 points in January).
The race for substitutes
As calculated by MutuiOnline.it, an installment that previously could account for 22% of the average household income, will now be able to reach 30%. Currently, as also suggested by experts, a form of defense is the fixed rate. That’s why the recent rush to substitutei.e. the replacement of the old one variable mortgage with a mortgage fixed rate. However, this is an alternative not followed by everyone, perhaps because it is not easy to meet all the requirements.