According to the latest report from the Luxembourg Central Bank (BCL), variable interest rates on mortgages have surged, reaching an average of 4.38% in May, compared to 4.11% in April.
This is bad news for those who have already opted for variable-rate loans, as their monthly repayments could rise considerably, depending on the terms of their loan.
In contrast, fixed interest rates fell to 3.85% in May. This marks the second consecutive decrease, at least temporarily, after the rate stood at 3.93% in March.
Finally, the interest rate for consumer credit with a term of less than five years was 4.85% in May.
Related:https://today.rtl.lu/news/luxembourg/a/2085649.htmlProperty market: Here’s why it’s getting increasingly harder to get a loan in Luxembourg
