Interest rates on mortgages and loans are recording a significant drop, offering new opportunities to families and businesses. According to the latest data of the Bank of Italy, the Mutual toeg dropped to 3.55% In December 2023, continuing a reduction trend that could continue in the coming months. Loans for businesses and consumer credit are also following a similar dynamic.

But what does this reduction really mean for those who have a mortgage or for those who are thinking of lighting one? And what are the forecasts for 2025? Let’s find out together.

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RATE FLOWING: What do Bankitalia data say?

According to the latest report of Bank of Italythe medium global actual rate (TAEG) applied to new mortgages for the purchase of homes has fallen to 3.55% in December, compared to 3.71% of November. This reduction, albeit contained, represents a positive sign for those who already have a variable rate mortgage and for those who intend to stipulate one in the coming months.

Also the sector of consumer credit He benefited from a slight downward, with the Taeg that passed since 10.24% to 10.09%while companies loans have seen an average reduction in rates from 4.53% to 4.40%.

These data confirm that the cost of money is gradually decreasing, aligning with the monetary policies of the European Central Bank.

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Mortgages and loans: what benefits for families?

The drop in interest rates is excellent news for those who have a variable rate mortgagesince monthly installments could gradually reduce themselves. Even those who are evaluating the purchase of a house can take advantage of more favorable financing conditions than in previous years, when rates were higher.

According to an estimate of the Codaconswho has a twenty -year mortgage with an amount between 100,000 and 200,000 euros could save between 13 and 27 euros per monthequal to an annual saving that varies between 156 and 324 euros. However, for those who have longer mortgages, like those thirty -year -oldsavings could be even greater, reaching up to 30 euros per monththat is to say 360 euros per year.

In addition to the reduction of installments for those who already have a mortgage, there are other advantages to consider:

  • Greater accessibility to credit
    With the cost of the lowest money, getting a mortgage becomes simpler. Banks tend to loosen the credit concession criteria, making funding more accessible even to those with more content incomes.

  • Possibility of subrogation or renegotiation
    Those who have entered into a mortgage in past years, when the rates were higher, can evaluate the option of the surrogateor the transfer of the mortgage to another bank that offers better conditions. This can lead to a reduction in the monthly installment or a decrease in the duration of the loan. Alternatively, it is possible Rhinebate the mortgage with your bank to obtain more advantageous conditions.

  • Most convenient loans for renovations and investments
    The drop in rates does not only concern mortgages for the purchase of the first home, but also funding for renovations or for real estate investments. Those who intend to carry out energy improvement or renovation works can benefit from lower rates and, in some cases, state incentives or tax breaks.

  • Greater economic stability for families
    A lower cost of money also means less pressure on monthly expensesallowing families to allocate more resources to other investments or savings.

However, it is always essential to evaluate your economic situation before contracting a loan, taking into account the Possible volatility of rates in the long run and the progress of the real estate market.

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What to expect for 2025?

Now that we are in 2025the trend of interest rates continues to be a central theme for families and businesses. There European Central Bank (ECB) has already made some cuts during the 2024and experts provide that in the coming months there could be further adjustments, depending on the trend of inflation and economic growth.

According to the projections of economists, mortgages rates could stabilize on lower levels than the peaks of the 2023making the lighting of new loans more convenient and the surrogate of the existing ones.

However, the ECB decisions will depend on several factors:

  • Inflation: If it continues to go down, there will be room for new rates.
  • European economy: Solid growth could push the ECB to maintain a more cautious monetary policy.
  • Global markets: Geopolitical and commercial tensions could influence financial stability.

In this context, who has a mortgage a variable rate It could benefit from a further reduction in the installment, while those who are evaluating a new loan could find more favorable conditions than in previous years.