Lithuanian Homeowners Brace for Rising Mortgage Rates
Brand Story
11 Mar 2023, 09:13 GMT+10
Lithuanians are bracing for higher mortgage rates as the European Central Bank (ECB) announced an increase in key interest rates in July 2022. This was the first interest rate hike since March 2016, and it's expected to impact homeowners across the country significantly.
Current interest rates stand at 3.00%, but could climb as high as 3.75%, according to data from Kreditai.INFO, meaning that Lithuanian homeowners are now paying a few hundred euros more each month than they were a year ago.
"This is a difficult time for many homeowners," said ECB President Christine Lagarde. "We understand that this will have an impact on their household expenses, and we want to do what we can to help them through this period of uncertainty."
The ECB has outlined several measures to help those affected by higher interest rates, including targeted loan refinancing programs, debt restructuring options, and targeted fiscal measures such as tax breaks.
For now, though, Lithuanian homeowners face uncertain times as they prepare for rising mortgage payments. Many are hoping that the ECB will eventually reverse its decision and lower interest rates again in the near future.
For anyone considering buying property in Lithuania or refinancing their current mortgage, experts recommend researching all of their options before making any decisions about their finances. With so much uncertainty surrounding interest rates and other economic issues in Europe, it's important for prospective homebuyers to know what they're getting into before signing any contracts.
Original Source of the original story >> Lithuanian Homeowners Brace for Rising Mortgage Rates
Share
Tweet
Share
Flip
Email
Subscribe and Follow
Get a daily dose of Raleigh Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Raleigh Times.
More InformationAI saves $500 million for Microsoft as layoffs reshape strategy
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
FTC’s rule to ease subscription cancellations struck down by court
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
Musk’s X loses CEO Linda Yaccarino amid AI backlash, ad woes
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
Ex-UK PM Sunak takes advisory role at Goldman Sachs
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
Gold ETF inflows hit 5-year high as tariffs drive safe-haven bets
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
PwC: Copper shortages may disrupt 32 percent of chip output by 2035
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
CDC: US records 1,288 measles cases, most since 1992 outbreak
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
Deadly July 4 flash floods renew alarm over NWS staffing shortages
WASHINGTON, D.C.: After months of warnings from former federal officials and weather experts, the deadly flash floods that struck the...
Tigers' All-Star Casey Mize hunts 10th win vs. Mariners
(Photo credit: Ken Blaze-Imagn Images) Casey Mize got some big news before his final start prior to the All-Star break. The Detroit...
Cal Raleigh smacks two more HRs, Mariners beat Tigers
(Photo credit: Lon Horwedel-Imagn Images) Cal Raleigh blasted his major league-leading 37th and 38th home runs, including a grand...
Reports: Matt Olson to replace Ronald Acuna Jr. in Home Run Derby
(Photo credit: Dale Zanine-Imagn Images) Matt Olson will replace Atlanta Braves teammate and fellow All-Star Ronald Acuna Jr. in...
A's Brent Rooker, Yankees' Jazz Chisholm Jr. round out HR Derby field
(Photo credit: Nathan Ray Seebeck-Imagn Images) Athletics designated hitter Brent Rooker and New York Yankees second baseman Jazz...
