Some mortgage interest rates fall below 1% for the first time ever

The interest rate for a ten-year mortgage with national mortgage guarantee NHG has fallen below 1 percent for the first time. Investment bank NIBC now offers such a mortgage, called Lot Hypotheken, with an interest rate of 0.99 percent. Until now, the lowest interest rate for a 10-year mortgage with guarantee was 1.04 percent, AD reports.

In addition to the 10-year mortgage, NIBC also offers fixed-rate periods up to and including 20 years. The interest rate for the longest term is 1.41 percent. "That makes us the lowest right now," a spokesperson for the bank said to newspaper NRC.

About a quarter of mortgages with NHG are 10-year mortgages, though mortgages with a term of 20 or 30 years have become increasingly popular. It is expected that other providers of NHG mortgages will also drop their interest rates in the short term.