Overview
- After a brief dip in early July, several major banks have reversed course and published higher representative mortgage rates, signaling a renewed upward trend in late July.
- 1822direkt raised its effective representative rate from 3.65% to 3.85% for a €300,000, 10-year example and showed monthly payments rising from €1,392.50 to €1,440.00.
- ING, Commerzbank and Comdirect also increased their example rates, with ING’s 15-year nominal rate moving to 4.27% and Commerzbank’s representative effective rate rising to 4.22%.
- Credit brokers report that competitive offers still exist but are narrower, with Dr. Klein citing a corridor roughly between 3.57% and 4.22% and Interhyp giving about 3.98% for ten-year loans.
- These published figures are representative examples and not firm offers; the actual rate a buyer receives depends on credit score, equity, loan-to-value, chosen repayment rate and other contract details, and rising long-term government bond yields are a key driver behind the higher costs.