Loans: Bargain Bargeld also for any other purpose

The mortgage rates are record low. This is not only good for buyers of real estate. Other needs can be financed so – without expensive installment loan.

Not always you get a second chance in life, but future homeowners she offers herself just in these days. The interest in construction is record low, as was the case last year. Currently, 2.33 percent interest rate to be paid for a mortgage loan with a term of ten years on average. This gives an index of FMH financial advice, which is calculated from the data of 40 selected institutions. Exactly one year ago this Bauzins fell to 2.3 percent. In September 2013 he climbs to about 2.8 percent, to then little by little to fall again. 20 years ago cost Bargeld ten-year fixed interest rates still around 9 percent.

Max fall of the FMH financial advice leads the recent trend in interest rates mainly due to the crisis in Ukraine back: “Investors engage in this environment, in search of safety to government bonds and other than certain current assets.” This drives their prices and lets the returns fall in return. The mortgage rate is based primarily on the interest on the mortgage bond market, which in turn correlate closely with Bund yields. “Many property developers have certainly never dreamed that the mortgage rates as fast again are so low,” says Herbst, “Of course you do not know how far interest rates will still fall. But the time for a home loan is already extremely low. ”

With lower interest rates and the rates for mortgages have declined. Thus, the average monthly standard rate was for a loan with a ten-year nominal fixed interest rate (lending 80 percent, 2 percent redemption) in March to 585 euros, in February the figure was 593 euros. The resulting data of the financial services Dr. Klein, which more than 20,000 loans with an annual volume of more than 30 billion euros are based.

The security needs of customers make itself felt here. The average nominal interest rate fixation stood at eleven years and five months. The average shows that more and more buyers secured a fixed interest rate that is higher than that commonly selected standard binding of ten years, says Stephan Gawarecki, CEO of Dr. Small. In addition, the average repayment rate has increased in March to near 2.4 percent, “acquirer took advantage of the decline in interest rates for higher eradication and could repay their loans more quickly.” A year ago, this figure was only 2.27 percent.

According to autumn, a repayment of 2 percent is already mandatory on the current low-interest rates. You should go more towards 3 percent, “But overall it’s important to cement the low-interest rates as long as possible to live as well as possible and to pay off the debt rather later. Because you pay 15 or 20 years at the same rate. “Any increase in income, in turn, increase the standard of living, and there was in the whole time no rent increase, says autumn and advises borrowers to agree definitely annual unscheduled with their bank and also to contract variations in which you can change the repayment installments during the term of the loan.

But not only future builders can benefit from the current low mortgage rates, but also those who already own a property. Do they have their original loans now repaid and not yet cleared their mortgage again, homeowners can re-use their loan availability when needed. “Be it for additions and conversions, for renovation or major repairs,” it says here:: are always financed with a mortgage loan “But other purchases such as a new car or a new facility can advise the Federal Association of German Banks . “the use of a mortgage is not tied to the home. Money there for any purpose.