Netherlands residents are dutifully paying their mortgages, but more and more people are bending over backward to do so, according to the Housing Costs Monitor of the National Mortgage Guarantee (NHG). One in five homeowners has struggled to make their mortgage payments in the past year. Many made budget cuts elsewhere to afford their mortgage, and some have also started working more.
Mortgage interest rates appear to be rising again after having fallen for 12 consecutive weeks. Mortgage advisory firm De Hypotheekshop, which tracks rates and identifies trends, said rates are rising because interest rates on the capital market have also risen in recent weeks. Mortgage providers typically turn to the capital market to borrow money.
Fixed mortgage interest rates have fallen for ten weeks in a row since the end of October. The speed of the current decline says quite a bit about the level of competition in the mortgage market, especially compared to, for example, savings account interest rates, said De Hypotheekshop. The biggest interest rate reduction since October has been with five-year fixed rate mortgages where the buyer can take advantage of the National Mortgage Guarantee (NHG). These mortgage rates have fallen by 0.7 percentage points.
Every year, the Netherlands implements several new and modified laws and regulations on January 1. Below follows a list of those law changes taking effect at the start of 2024. NL Times previously published extensive articles on law changes expected to impact people's wallets, as well as those law changes affecting safety and security in the Netherlands.
Banks and other organizations issuing mortgages have further reduced their mortgage rates this week, says independent mortgage advisory firm De Hypotheekshop. Interest rates have now fallen for eight weeks in a row. The fact that mortgage rates are falling has to do with the reduced interest rates on the capital market. Some financiers even dropped interest rates by 0.2 to 0.3 percentage points, the organization said.