What are mortgage rates doing according to ING?

Our experts give their expectations for the period ahead. See at a glance the forecast for mortgage rates also on the Mortgage Interest Rate Forecast.

Short-term interest rates

Variable mortgage rates are often linked to short-term market interest rates, such as Euribor rates. These are the interest rates at which banks lend money. The development of these Euribor rates is largely influenced by the monetary policy of the European Central Bank (ECB).

The ECB cut the policy rate from 3.50 per cent to 3.00 per cent on 12 December. This cut followed an earlier policy rate cut in October. As a result of the lowered policy rate and market expectations that the ECB will cut interest rates further this year, Euribor rates have fallen. As a result, we expect Euribor rates to fall further in the coming months.

Short-term mortgage rates have recently fallen partly as a result. And given the above expectations, short-term fixed-rate mortgage rates may continue to fall in the coming months.

Long-term fixed-rate mortgage rates

From early January to July last year, capital market rates were fairly stable and long-term fixed-rate mortgage rates also remained at about the same level.

In July, capital market rates started to fall slightly until early December. Partly as a result, mortgage lenders slightly reduced the mortgage interest rates offered.

Since early December last year, capital market rates have been rising. As a result, capital market rates are now about 35 basis points higher than in early December. We expect capital market rates to remain around this level in the coming months as well. This increases the likelihood that mortgage lenders will raise long-term mortgage rates.

More interest rate forecasts

Also read expectations for interest rates from our other experts: Philip Bokeloh and Sjoerd Humble.

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