Mortgage interest rates are likely to fall slightly in the coming months, various mortgage consultancies think.
Calm in the mortgage market is slowly returning and as a result, lenders are carefully lowering their interest rates again, after the corona crisis made them rise.
During the corona crisis, there were several factors that caused mortgage interest rates to rise.
First, governments' budget deficits increased.
As a result, the interest on government bonds rose, an important indicator for mortgage interest rates, according to De Hypotheker.
In addition, mortgage lenders were very busy because many applications were received, which meant that interest rates were not lowered.
The situation has now changed and there is a series of factors that ensure that mortgage interest rates can fall.
First the political factors: the European Union has agreed on a recovery fund and the European Central Bank (ECB) has established a bond buying program.
De Hypotheker expects that the sum of these two factors will cause mortgage interest rates to fall.
Backlogs from corona crisis are gone
Then there are a lot of practical reasons.
According to Oscar Noorlag, compliance officer at Van Bruggen Adviesgroep, mortgage lenders have cleared their arrears from the corona crisis.
"They've got their house back in order," he says.
"That is why the mortgage interest can go down again."
Martin Hagedoorn of De Hypotheekshop gives another three reasons.
The first: the mortgage season is coming.
"In the autumn, people are more active on the housing market and therefore take out more mortgages, so lenders often start an interest offensive."
Lots of money available
In addition, lenders have a lot of money available.
The Dutch mortgage market is also very attractive for foreign investors.
"At the beginning of this year, the lenders reported that together they had about 150 billion euros available for mortgages, while last year they took out about 100 billion euros in mortgages. Those lenders just have to meet their targets, so they will also lower the interest rate. "
And finally, the margin that lenders have on mortgage interest is slightly higher than a few years ago.
Between 2017 and 2018, the margin was about three-tenths of a percentage point lower, according to Hagedoorn, so the lenders still have some room to fall.
No spectacular drops
But don't expect spectacular declines, Noorlag says.
"Last year, the mortgage interest rate went down by a few tenths of percentage points after the summer, we think the chance that this will happen again is small. At the same time, we know that several mortgage lenders have announced that they are going to lower the interest rate. One will do that by two hundredths. the other with seven hundredths and a single maybe with a tenth of a percentage point. "
At the moment, according to De Hypotheker, the average interest rate for a mortgage with a fixed-rate period of twenty years with a National Mortgage Guarantee (NHG) is 1.66 percent.
Without NHG this is 2.25 percent.