ECB effect on mortgages, even € 1,000 more per year to pay the installments

The increase of 75 points for rates, decided by the European Central Bank, inevitably affects the pockets of households. According to Codacons estimates, for a 25-year variable rate loan of 250 thousand euros, an additional 90 euros per month will be paid

The effect that the increase in interest rates of 75 points, decided by the ECB, will bring on variable rate mortgages will not be painless for households. According to the estimates of the Codacons, for a loan of 150 thousand euros to 25 years, the monthly payment will go from 590 euros to 643 euros, that is 53 euros more per month, 636 euros per year. For a loan of 200 thousand euros always at 25 years, the association then estimates, the monthly payment will go from 787 euros to 858 euros, +71 euros per month and +852 euros per year. It is worse for those who have taken out heavier and longer-term loans: on a mortgage from 250 thousand euros to 30 years, the monthly payment rises from 847 euros to 937 euros, with an increase of 90 euros per month and a greater outlay equal to 1,080 euros on an annual basis.



“We had foreseen last August the sting on mortgages that would be triggered in the autumn, and unfortunately our fears have been confirmed. The increase in the cost of loans thus adds to the high bills and the price emergency, further aggravating the Italian families “, comments the president Carlo Rienzi.



Source-www.adnkronos.com