Mortgage interest rates on the rise after summer stability
Homeowners are saying goodbye to their briefly stable mortgage interest rates as banks and mortgage lenders raise their rates once again. Rabobank and ING are among those who have increased their rates, according to Nu.nl.
Mortgage interest rates were unusually low until January and percentages could be at 1.5 or below. They saw a marked increase in the first half of the year, when many interest rates exceeded 4 percent, before falling slightly in recent months.
Now, the average mortgage interest rate is pushing 4 percent again at 3.88 percent. This is due to market interest rates –– which banks charge if they lend money to other banks –– rising, according to Hypotheekshop. This extra cost is then transferred to customers, according to Nu.nl.
Analysts previously predicted in August that mortgage rates, which stabilized over the summer, could soon see a decrease. "In theory, the mortgage interest rate could be 1 percent lower than it is now," one expert told the NOS early last month.