While mortgage interest rates fluctuated considerably up and down at the beginning of this year, they have entered calmer waters in recent months. ABN AMRO, Rabobank and comparison site Rente.nl notice this. The lower number of mortgage providers, among other things, ensures the stable percentages.
In the first months of this year, and especially with the COVID-19 outbreak, there was a turbulent market, ABN AMRO noted, with many interest rate hikes and cuts.
“During the crisis, there was turmoil on the capital markets, causing mortgage lenders to adjust their interest rates more often,” explains ABN AMRO. The bank sees that interest rates have now become stable and expects few changes in the near future. "But we cannot say much for the medium and long term."
Rabobank has also kept interest rates stable in recent weeks. The bank sees that there is also little movement among competitors. According to Rabobank, the stability is caused by the fact that there are fewer competitors in the mortgage market. This means less pressure to cut interest rates even further.
Comparison site also comes to the same conclusion
Comparison site Rente.nl looked at the interest rates used by the various mortgage providers and came to a similar conclusion to Rabobank and ABN.
"Many mortgage lenders have not adjusted interest rates since the end of May. At other mortgage lenders, the changes are limited to a small decrease or increase here and there." These are interest rates of so-called annuity mortgages, a common type of mortgage.
This shows that for mortgages with a fixed interest rate for five years, the rate has remained the same since June at 1.21 percent. If the interest rate was fixed for ten years, the rate would be around 1.33 almost continuously. For mortgages whose interest rates have been fixed for longer, for example twenty years, the comparison site does see a bit more movement.
ING does not entirely agree with the findings of ABN AMRO and Rabobank. The bank itself last changed the mortgage rates on 12 June and is seeing some more movement in the market.