Table of Contents:
The current context of the mortgage market
In 2024, the mortgage market underwent a significant change due to the decisions of the European Central Bank (ECB). After a period of rate hikes that began in July 2022, the ECB has undertaken a policy of reducing rates, with the last cut of 25 basis points. This maneuver has a direct impact on Euribor rates, which are the main reference indices for variable mortgages.
Borrowers who choose this type of financing can now benefit from lower monthly installments, with significant savings on interest over the long term
.
Mortgage savings: the numbers speak for themselves
According to analysis by Mutuionline.it, borrowers who opt for a variable mortgage of 150,000 euros over 20 years can save more than 4,700 euros thanks to recent rate cuts. This translates into lighter monthly installments, with a decrease of about 20 euros compared to previous months. In addition, the average TAN for 20- and 30-year mortgages fell by almost one percentage point, from 4.94% to 4.04%. These data highlight how the ECB’s monetary policies are positively affecting the purchasing power of consumers in the real estate sector
.
Subrogation as an opportunity for borrowers
Another interesting aspect that emerged in 2024 is the increase in requests for subrogations, which grew by 3% compared to the previous year, reaching 34.1% of the total. The subrogation allows borrowers to transfer their mortgage to another credit institution, keeping the original mortgage and benefiting from more advantageous conditions. This option is particularly useful in an environment of falling rates, allowing consumers to optimize their financial costs
.
Green mortgages: an advantageous choice
At a time when sustainability is at the center of attention, green mortgages are gaining popularity. These loans, dedicated to the purchase of energy efficient properties, offer interest rates that are on average lower than traditional mortgages. For example, a green mortgage may result in a monthly installment of about 25 euros lower than a standard mortgage, with a total interest savings of more than 7,100 euros over the life of the loan. This option not only represents an economic advantage, but it also contributes to a more sustainable future.
Future Perspectives: The Influence of Global Monetary Policies
Looking beyond Europe, the monetary policies of the Federal Reserve and the Bank of England could further influence the mortgage market. With the Fed preparing for a possible rate cut, global dynamics could also have repercussions on the euro and the European economy. Nicoletta Papucci of Mutuionline.it stresses the importance of monitoring these developments, since divergences in monetary policies could influence the value of the euro and, consequently, the cost of European exports
.
