Mortgage rates rise for second time in three months, further increases likely

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Most homeowners will pay more for their mortgages from this month after several of the Netherlands’ largest banks raised their interest rates.

Rabobank, ING and Volksbank (SNS) are among the lenders to raise the cost of borrowing last week, and more are expected to follow suit this week.

Financial advisers Van Bruggen Adviesgroep said the average rate rose by between 0.07 and 0.08 percentage points last week. It is the second time in three months that interest rates have risen after reaching a low point in October.

The biggest increases were in fixed-rate mortgages of five, 10 and 20 years, with the average 10-year rate going up from 1% to 1.07% since the autumn. Variable rates have stayed flat at just over 1.4%.

‘Our expectation for the medium term is that the market interest rate will rise by a couple of tenths in 2022, with mortgage interest rates rising in its wake.’

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