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Housing loans are cheaper than ever – Vorarlberger Nachrichten



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Rates of mortgage lending reached historical minima in May. Hence, private households can save money through redevelopment. According to the Oesterreichische Nationalbank (OeNB), private households paid only 1.71 percent interest on a new housing loan in May.

The reason for this is a long-term policy of the European Central Bank with a zero interest rate, as well as increasing competition between banks.

With an open credit facility of 250,000 euros and a residual maturity of 20 years, the interest rates for attractive offers currently range from 0.45 per cent and 1.5 per cent fixed-term, according to a recent study by Durchblicker's largest comparison portal in Austria. The portal is advised to rebuild housing loans.

After all, private households could save themselves an average real estate loan of up to € 62,500. However, it was necessary to take a loan before the beginning of the financial crisis, for example, in October 2008, and since then, they forgot about the transfer.

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