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Real estate interest rates are at their highest since 2011

According to data from the financing broker Interhyp, interest rates for real estate loans have risen to almost four percent, the highest since 2011.

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Real estate interest rates are at their highest since 2011

According to data from the financing broker Interhyp, interest rates for real estate loans have risen to almost four percent, the highest since 2011. A ten-year standard loan was therefore subject to interest at 3.98 percent before the weekend, as the Munich-based company announced. Interhyp expects that the four percent threshold will soon be exceeded.

"It is unlikely that interest rates will fall noticeably again in the near future," said Mirjam Mohr, the board member responsible for private customer business. In the coming weeks and months, there will probably be no change in the macroeconomic situation consisting of increased inflation, the ECB's tightening monetary policy and high yields on German government bonds. "We therefore expect interest rates to continue to rise moderately."

The rapid increase in real estate interest rates since the beginning of the year has also surprised many experts in the real estate industry - in February the average interest rate for a ten-year loan was just over one percent, in June it was already over three percent. Demand for real estate loans was still high in the first half of the year, but has fallen noticeably since the summer.

The rise in interest rates in recent weeks from 3.5 to 4 percent can already mean a monthly additional burden of well over 100 euros for buyers. According to the Interhyp sample calculation, the monthly installment for a purchase price of EUR 400,000, equity of EUR 50,000, repayment of two percent and an interest rate of 3.5 percent is EUR 1705. With an interest rate of 4 percent, it is already 1860 euros.

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