The average mortgage interest rate has reached its highest level in over two years, according to the mortgage broker De Hypotheker. This rise is largely driven by higher interest rates on the capital markets—the benchmark used to set mortgage costs—which have climbed due to the conflict in the Middle East. While a slight further increase is expected, experts believe the worst of the peak is likely over.
Currently, the average 10-year fixed-rate mortgage with a National Mortgage Guarantee (NHG) stands at 4.01%. This is the first time since late 2023 that this rate has climbed above the 4% mark.
Impact on Homebuyers
Rates have jumped by more than 0.3% in recent weeks. For someone taking out a €400,000 mortgage, this adds roughly €25 per month to their net costs. While this may seem like a small change, Mark de Rijke of De Hypotheker warns that it could force buyers to lower their budgets or reduce their ability to outbid others in a competitive market.
Increased Caution
The combination of rising costs and global uncertainty is making buyers more careful. For the first time in three years, the average mortgage amount did not increase last quarter. This suggests that people are becoming more hesitant to take on larger debts as borrowing becomes more expensive.
@anp | NEWS BRAINPORT
