The interest rates on mortgages with a fixed rate for private households increased to 2.05% in May. The rate has thus nearly tripled over the course of a year. The amount of borrowed money also decreased slightly over the same period of time. At the same time and in the month of May alone, loans with a fixed interest rate and a maturity of less than 10 years totaling €460 million were approved. This was reported by the Luxembourg Central Bank on Tuesday, based on preliminary figures from May.
The floating interest rate only slightly increased to 1.36%.
The rate of consumer credits with a maturity between one and five years increased to 2.89% in May. In spite of this increase, the number of approved credits has remained stable.
