Luxtoday

Mortgage rates have risen again

Mortgage rates have risen again

At the end of August, the variable mortgage rate increased by 7 basis points to 4.67%. On an annualized basis, the rate increased by 331 basis points or 3.31%. At the same time, contract amounts decreased by almost 100 million euros.

The fixed rate also increased in August but by a smaller amount — only 1 basis point. This is significantly less than for the year when the same indicator rose by 99 basis points. Money turnover increased, which may indicate an influx of new clients seeking stability.

Frequent increases in key central bank rates have also affected deposit rates. Time deposits with less than a year of maturity increased by an average of 300 basis points, which benefits those who keep their savings in banks.