Economy

Mortgage rates rise sharply in October. For variable charges of more than 100 euros per month. It is almost certainly further increases

Interest rates jump on new home mortgages in October. It pops up from the new tables you posted Bank of Italy on the interest rates applicable to loans disbursed for home purchases including the incremental costs (global effective annual rate, Taeg) that placed at 3.23%, up sharply from 2.65% in September. As far as consumer credit is concerned, there is a benefit reached 8.94% (8.83 in the previous month). Deposit rates (i.e. paid by banks to depositors) on total outstanding deposits were 0.37 percent (0.34 in the previous month). Implications for the average variable rate mortgage are estimated at approx 1,500 euros more per year.

Higher interest rates follow decisions European Central Bank Which, as part of its anti-inflationary work, has repeatedly raised the cost of money since last July, bringing it from 0% to 2%. This is the rate at which banks deposit their reserves with the ECB but, in series, ends up having repercussions for all types of financing. Mortgage data for the month of October Not yet including the half-point increase scheduled for November, interest rates on mortgages and loans are expected to rise further. A new ECB meeting is scheduled for next Thursday where the cost of borrowing should be higher raised to 2.5%.

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