Milan, 11 Nov. (LaPresse) – ‘Interest rates continue to rise, with negative effects on the mortgage market and the pockets of millions of families.’ This is according to Codacons, commenting on the Bank of Italy report which states that the increase in rates applied by banks on new mortgages for home purchases continued in September, with the APR standing at 3.71%. The Bank of Italy data unfortunately confirm our alarm regarding the growth of rates charged by banks,‘ explains Codacons. ’The failure of the ECB to cut rates, which has left interest rates unchanged in its last four meetings, is being reflected in the market, with negative consequences for families." The interest rates on mortgages actually charged to households have risen from 3.50% last January to 3.71% in September, an increase of +0.21% since the beginning of 2025: if we consider a 30-year mortgage of €150,000, this equates to an additional outlay of €18 per instalment, or €216 per year, according to Codacons. On a 25-year mortgage of €120,000, the additional cost is €14 per instalment, or €168 per year.
© Copyright LaPresse
