2009 could not be a bad year for those on variable rate mortgages. Not only that. We announce news for those who will draw up a loan to buy a house and can do so by hooking the interest rates charged by the European Central Bank rather than indices such as the 'Euribor who lost reliability. Quest 'year could occur then significant savings for families who have a mortgage variable-rate housing. This is due to lowering of the rates of 'interest of the ECB. According to the forecasts' of the Italian economy Confindustria Research Centre (CSC), after a series of cuts by the ECB during the 'year, "the official rate will be equal to' 1.75% on average in 2009 (2, 12 percentage points lower than the average for 2008). For those who have an adjustable rate mortgage, then, the CSC provides savings at the end of the 'year of 2064 €. Viale scenario of 'Astronomy' s new Eurotower will cut interest rates in the first half of 2009 and by the end of the first quarter, "with two cuts of a quarter-point, will bring the refinancing rate to 2% (today it is 2.5%, ed), namely to the lowest level reached in the previous cycle (2003-2005). " And in the second quarter, "it still decrease, leading to '1.5%'. The cost savings achieved by lowering interest rates - according to the provisions of the CSC - will be 2.9 billion on adjustable-rate mortgages, "of which 1.2 billion already by the end of 2008 and other 1.7 billion in December 2009." It will be a significant savings because all focused on families who have turned this type of loan, "with a benefit of € 172 in total for each installment, ie € 2,064 per year to the end of 2009 (when the 72 € monthly obtained in the second half in 2008 he sum other 100). " From January Moreover, according to the decree crisis, banks must give customers the opportunity to sign contracts at a variable rate indexed to non 'but the Euribor interest rate on the ECB's main refinancing operations. Not only did the Bank of Italy has forced banks to greater transparency on mortgage loans with appropriate communications even those already on a loan. RF 1.75 percent
Source: www.corriere.it
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