In a situation full of doubts and uncertainties, many companies are trying to contain the damage. Interest rates on mortgages are in fact fallen on particularly low values, making this an excellent time to buy a house. For some it might seem like a paradox, but in reality it is not. It is enough to simply consider the relationship between supply and demand. The coronavirus does not push some to think about buying a property, so there is less demand. As a result, interest rates fall.
In the last days of February 2020, the 1-month Euribor arrived at -0.488% share, compared with -0.455% at the beginning of February. If we look at the Eurirs (Eurointerestrateswaps) to 10 years, the rate at the end of February was -0.16%, compared to 0.03% recorded at the beginning of the month.
It is clear that current circumstances may be an opportunity for those looking for a first home or, more generally, of a property to buy.
Despite a convenient situation for those who were trying home, of course we hope that everything returns to normal as soon as possible.
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