According to the Bank of Italy in December 2010 , interest rates applied to loans granted to Families have suffered increased from 3.09% to 3.18% in November, with a relative increase of the rate for all those Italians faced with paying a home mortgage.
The supplement to the Statistical Bulletin "Money and Banking" Bank of Italy also shows that interest rates for consumer credit decreased slightly 8, 33 compared with 8%, 39% the previous month. The loans have remained fairly stable, and in fact the annual growth rate of loans to individuals marks a constant value of 3.6% from 3.5% in November.
From these data, we wanted to check with the portal Supermoney how to actually translate these figures, the comparison of the best fixed-rate mortgages and variable rate currently on the market, a demand of 145,000 to be repaid in 25 years to buy a property for € 200,000. The profile considered is that of a family man of 40 years, with contract for an indefinite period and net income of EUR 5,000 per month who want to purchase their first home.
choosing a variable rate the first mortgage is offered by cheaper CheBanca! with variable mortgages, which suggests a rate of € 625 per month, 2.19% APR and a full refund of € 187,917. The second is Mutual Orange of ING Direct with an installment of 628 € monthly, APR 2.21%, and a full refund equal to € 188,445, while third place is always occupied by CheBanca! with Mutual Savings that installment amounting to € 639, APR of 2.40% and total refund of € 192,224
For the same loan application but with a fixed rate is Fixed Mortgage CheBanca! the most advantageous tender, with a monthly payment of 843 €, 5.09% APR, for a total repayment of € 253,322. Followed in order of convenience ING Direct Orange Mortgage with a tranche of € 847 per month, APR 5.10%, and a total of € 254,043, and Mortgage Purchase IWBank an amount of monthly payment of 877 €, APR 5, 47% and a full refund of € 262,970.
Note how the difference between fixed and variable installment is on average € 225 per month, with a variable marked for convenience.
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