Wait and drink tea – are good advice for all, which are due to the Coronavirus in the Lockdown. When it comes to the financing of the own four walls, but it is fashionable to Act.
last week, the Corona had a crisis in the mortgage interest rates temporarily in the height fast. And industry experts agree that It remains turbulent in the market. “It is difficult to predict where the Whole thing will develop,” says Michael Bader, a mortgage expert from Financescout24.
banks increase Wait risk premiums
A pure how the interest rates develop, is currently not a good strategy: Because providers streamline their offer and home office regulations to extend the processing time. to prevent
“To a capacity overload, we see a few providers, even temporary price hikes,” says Stefan Heitmann (43), CEO of the Hyothekarspezialisten money Park. The increase will be mainly due to risk premiums, which will introduce the provider due to the uncertainties.
restraint in mortgage lending
a further point: the commitment of the banks to provide rescue loans to the companies the most important group of Providers is likely to continue in the mortgage business and their activities, in particular in the case of Refinancing, a strong back.
What is the impact this has on the development of the market shares and margins in the mortgage business, remains to be seen. “We expect in the short term, a slight increase in mortgage rates before they start to recover a bit and at the present level or slightly higher level off is expected,” says Heitmann.
“interest-Zunami” is not yet a means to the end of
mortgage expert Bader of FinanceScout24: “This interest rate Tsunami is not over yet. I assume that there is, despite the intermediate, smaller fluctuations in the medium term, with a slightly higher level of interest rates is not, in particular, as long as the Covid-19-Situation and the associated consequences for the economy are still unclear.”
What is the for customers who now want to get the best possible terms and conditions means? “Who needs to renew in the next few months, his mortgage or a new property buy, you should seek early financing offers,” says Heitmann.
development watch
mortgage can be extended for up to two years before the end. “A lot of customers don’t know that, because the banks communicate on the offensive,” said Heitmann. Currently, you still have good prospects on attractive terms and conditions.
Even if the average mortgage interest rates increase slightly, to be found by a wide comparison of Providers, still good mortgage deals on the market. It is worth to say the least, to observe the development of interest rates closely.
