Bank of Italy Had expected: Mortgages became More expensive. After a slight descent, in fact, a February Rates returned to August levels. The amount of Taeg that represents the total cost of the loan has increased 1.85% vs. 1.78% in January. And it is mainly the young people who pay the price. As stated in the analysisMutuiSupermarket.it . Observatorythe banks have not only increased the premiums (the spreads) that they apply to fixed and variable rates, but they also remain Suspension of offers for those under the age of 36 In the context of First Home Guarantee Fund. Running since 2015, the program It was Consolidated by a bis Sosteni Decree of May 2021which expanded from 50% to 80% The part of the loan covered by the state for young people with a Show Less than 40 thousand euros.
Then the fund was refinanced under the budget law with 242 million euros And the deadline for applying for a mortgage has been extended to December 31, 2022. Although it has been very successful recently, thanks to The uncertainty weighing on the economy, The first hostel reward is facing some difficulties. The main problem is that the rate proposed by the bank Can not exceed one anti-wear Fixed every three months by the Bank of Italy until June 30, 1.99% for fixed mortgages and 2.27% for variables. In the current situation, with inflation at 6.5% and the impending rise in the cost of money by the European Central Bank, credit institutions are at risk of losing. Credit Agricole and Avira From the Credem group, for example, is no longer awarded Fixed Rate MortgagesGuaranteed by Consap for loans above 80% of the property value. An option also followed by other banks. Unicredit and Bear Suspension of payments for new fixed-rate youth mortgages with Consap Guarantee, while Banco Bpm I did that for variables too. On the other hand, Silla Bank still gives loans to those under the age of 36 to purchase their first home, but only for amounts not exceeding 70% of the value. The only exception is a job. In fact, the Netherlands Institute has extended the offer of the mortgage to amounts covering 95% of the price of the house.
In short, there is ongoing credit stress that mainly affects young people but also affects other borrowers. During this month joris at 20The benchmark for fixed-income mortgages came in at 1.47%, up 0.38%. And it continues to rise: on April 20 it reached 1.65% while in December 2020, its lowest level ever, it was 0.01%. Although still in negative territory, Also EuriborOn which loans are based with variable interest rates are rising. The April average is -0.45%, a 0.04% jump from the previous month, while in December last year it was still at -0.58%. But then it is necessary to increase the two indicators Add the spreads applied by the banksturn fast growing.
Again according to Osservatorio MutuiSupermarket.it, Crédit Agricole increased it by 0.27% for fixed rates and by 0.16% for variable rates, PNL 0.25% and 0.05%, respectively, and Banco di Sardinia by 0.15% and 0.05%. Intesa San Paolo, Instead, he only adjusted the spreads for the fixed premiums, which rose from 0.10 to 0.40%. jump Crédim which reduced them by 0.58% To obtain loans in the amount between 70 and 80% of the value of the property. It’s mainly young people up to the age of 35 who ask for a mortgage – and their questions are that 48% of the total While buying is the goal pursued by 84% of borrowers. With regard to income, a Borrowing to buy a house is mostly those who earn between 1500 and 2000 euros (30%) and 36% of loans range from 100 thousand to 150 thousand euros.
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