Finally some good news for those who have a mortgage. Here’s what will happen in a very short time.
A turning point that comes as good news after difficult years and especially after the exponential growth in interest rates have caused many problems for Italian families. A peak that resulted in large installments that were difficult to manage from a financial point of view.
Bank of Italy has foreseen a net cut in points which It also allows you to calculate personally for each one how much will be the actual saving you will benefit from?
Variable rate mortgage: installments will drop, that’s how much
The ECB raised interest rates and this created many problems for citizens who had to deal with generalized increases in prices. In recent weeks, however, the situation has changed, as announced personally by Luis de Guindos, ECB vice-president which specified how rates should change as early as June.
The decline will obviously be progressive and we can expect a 100 point change by the end of the year, a cut in interest rates and inflation which will allow everyone to save a lot. The mortgage will cost less and it is therefore time to wait for positive results after very difficult months in which there was the race for subrogation.
Faced with rates that were rising more and more, many and understandably chose to vary their mortgage either by asking the bank for a reformulation where possible or by changing their institution with subrogation. However, this led to a series of problems because even those who were in a good position overall chose to change by switching to a fixed rate mortgage.
The problem for analysts, however, is another, according to estimates, in fact, in the end, despite the increases in recent months, those who have opted for a variable rate will save. When the choice is made when signing up for the mortgage, the question is very simple, you can opt for a fixed, mixed or variable rate.
Those who want a fixed installment choose the fixed one which therefore leads to a stable condition over time that is known from the beginning and those who opt for a variable installment instead hope to be able to save in the long term. Those who therefore made the switch to save in the short term unfortunately did not consider what commonly happens in the long term.
The variable rate always imposes fluctuations which can also be very heavy as has happened in recent months but the real savings it can only be seen over the full term of the mortgage so at twenty or thirty years and it is never achieved in the short term.
Anyway with the news you will get a first payment of around 40 euros on the installment by June and then by December there will be a further discount of 50 euros which will be added to the previous one. So all in all, you can expect excellent savings of at least 600 euros per year or even more, based on a series of characteristics such as type of rate and also variation with respect to income.
