Their fixed interest rates remain attractive mortgage loanswhich act as a buffer for the heightened uncertainty caused by its rise inflation and upward trend floating interest rates. This is pointed out by bank officials, who explain that higher interest rates are already having a negative impact on household psychology and the desire to buying a home. Thus, “fixing” the interest rate for the long term remains today a profitable solution for those who want to take a step into a new mortgage without experiencing the stress of rising interest rates.

The same does not apply to households that have loans in the past and have fulfilled their obligations in recent years. The contracts for these loans, and because the borrowers have avoided extending their debts, have closed the interest period and the debtors now pay mostly principal and less interest. Thus, as the competent bank managers explained, they will not be significantly affected by the increase in interest rates, and this is also the reason that, despite fears, there is no wave of conversion of these loans, i.e. variable rate contracts to fixed rates.

It should be noted that “tracking” the growth of interest rates of the ECB, uribor The three-month rate, on the basis of which approximately 90% of the banks’ loan portfolio is valued, is now 0.351%. At the same time, the annual euribor, reflecting the trend in interest rates next year, is 1.146%, taking into account the further increase in interest rates, which the ECB has already announced for September, after inflation persists. reaching a new record high in July, namely 8.9% for the Eurozone (11.3% for Greece).

Against the backdrop of an upward trend in floating interest rates, fixed interest rates remain, which, based on the current tariffs, range from 2.9% for a short period of up to 3 years and reach 4.20% for a long period of 30 years. .

In particular, the fixed interest rate of the Eurobank for 3 years is 2.90%, for 5 years – 3.10%, for 10 years – 3.50%, for 15 years – 3.70%, for 20 years – 3.90 %, for 25 years – 4% and for 30 years at 4.20%.

At the moment, they range from 2.9% for a short term up to 3 years and go up to 4.20% for a long term of 30 years.

The fixed rate of the National Bank for 10 years ranges from 3.30% to 3.70%, the fixed rate for 15 years – from 3.55% to 3.95%, for 20 years – from 3.80% to 4.10%, for 25 years – from 3.95% to 4.25%. %, and a fixed rate for 30 years from 4.10% to 4.40%.

Alfa-Bank’s fixed rate for the first 5 years is 3.20%, 10-year fixed rate 3.40%, 15-year fixed rate 3.60%, 20-year 3.80%, 25-year 4% and fixed for 30 years 4.20%. %, interest rates that increase by 0.20% in case of financing over 60% of the appraised value of the property.

Piraeus Bank applies fixed interest rates from 3.35% to 4% for 3 to 30 years, while the Bank’s floating interest rate is based on 1-month Euribor, which is still slightly in negative territory, plus a margin that starts at 2.65% and goes up to 3.75%.

It should be noted that for the remaining term of the loan after the fixed period, a floating interest rate is applied, which for other banks is based on the 3-month Euribor plus 3.3% or 3.75% for the National Bank. , by 3% to 3.20% (depending on the loan amount) for Alfa Bank, by 1.70% to 3.60% for Eurobank. Apart from the 0.12% levy under Law 128, the mortgage interest rates quoted by banks on their invoices are indicative because the final fee for the client depends on the amount of the loan in relation to the commercial value. ownership, income position of the client, as well as the relationship that he maintains with the bank.

Bank executives explain that rising interest rate swap rates have increased the cost to banks of fixing interest rates for long fixed periods, such as 10, 20 or even 30 years. “Interest rates that have prevailed in recent months have been disproportionately low with the rise in the value of money,” they note, leaving the bank barely able to cover costs to offset its costs. Even after the increase they made during the two months from June to July, today’s fixed interest rates are, according to the home loan authorities, a “window of opportunity” for those who want to “lock” their mortgage payment at a low level for an extended period of time. , since according to forecasts, the growth of interest rates for this category may reach up to 1 unit by the end of the year.