Thursday, December 01 2020 9:15 PM

Variable mortgage interest rates are frozen

Although banks can now borrow more cheaply from the European Central Bank, they do not lower variable mortgage rates. That does not make it really easy for consumers who are about to buy a house. Last August, the criteria for mortgages were already tightened by the Dutch banks. It turns out that the banks in our country have nowhere to go in terms of mortgage interest and are quite stuck. They can now borrow cheaply from the European Central Bank themselves, but are not lowering their mortgage rates because of the euro crisis. They fear even more risks and problems because of the many investments in sovereign debt that only seem to accumulate. Extra lending with new mortgage loans therefore does not have high priority for banks under these circumstances. As it looks now, you do not have to expect any offers or promotions from the lenders for a loan for a house.

There is, however, an upward trend in savings interest rates. Banks dare to bet on this, because it offers more security. The highest variable savings rates are now around three percent. What banks earn with the relatively high mortgage interest rates, they partly lose again due to the high savings interest rates.


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