October 2022: Interest rates increase over the entire term of the mortgage

The increase in mortgage interest rates in October 2022

The rise in mortgage rates across all loan terms is being maintained in October 2022. With the rates announced this month, a borrower taking out a loan of €180,000 over 20 years at 1.92% will see their monthly payment rise to €903.79 for a total credit cost of €36,907, compared to €17,520 in January, i.e. 110.65% more, which corresponds to an increase of €19,387 for a loan of the same duration and amount.

This increase is also significant compared to September, as the total credit costs of €36,907 in October against €33,867 in September correspond to an increase of €3,040, or 8.92% more for a loan of the same duration and amount.

Average property prices for October 2022 by the duration of the loan

According to the latest barometer from the Centrale de Financement, generally observed interest rates have increased by 0.948% on average since the beginning of the year for all loan terms combined. Households therefore benefit from less favorable loan terms than in January. In more detail: The most significant increase in credit rates is observed for loans concluded over 7 and 12 years, with an increase of 0.99% compared to January 2022. For loans with a maturity of 20 years, the increase in rates is 0.98% in compared to the beginning of the year, it is 0.94% for loans made over 15 years, 0.91% for loans made over 10 years and 0.88% for loans made over 25 years.

Interest rates generally observed have increased by 0.126% on average since last month. Households therefore benefit from less favorable loan terms than in September. In detail: The most significant increase in credit rates is observed for loans made over 7, 12 and 20 years, with an increase of 0.15% compared to September. For 10-year loan terms, the interest rate increase is 0.13% from last month. For those contracted over 15 and 25 years, it is 0.09%.

The best property prices in October 2022 by the duration of the loan

The best rates achieved in October 2022 have increased by 0.905% on average from those achieved at the start of the year, for all loan terms combined. Households therefore benefit from less favorable loan terms than in January. In detail: The most significant increase in the best credit rate is observed for loans made over 15 years, with an increase of 0.99% compared to January 2022. For a loan period of 20 years, the increase in rates is 0.98% compared to the beginning of the year, for loans made over 12 years, it is 0.92%, for loans made over 25 and 7 years, it is 0.89%, for loans made over 10 years, it is 0.85%.

The best rates achieved in October 2022 have increased by 0.206% on average from those achieved last month. Households therefore benefit from less favorable loan terms than in September. In detail: The most significant increase in credit rates is observed for loans made over 25 years, with an increase of 0.30% compared to September. For 15-year loan terms, the interest rate increase is 0.29% from last month. For loan terms of 20 years it is 0.27%, for 10 years it is 0.19%, for 12 years it is 0.18% and finally the interest rate increase is 00.01% for 7 year loan terms.

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