Own home: interest rate development / interest rate / interest rate increase / conditions

Hello everyone,

for the purchase/construction of a condominium, I have obtained various offers. Among other things, I received an offer through a financial broker at the local Sparkasse, which I actually find quite okay. In the first conversation, he promised me 1.45% for a 15-year term. He shortly revised this over the phone and said that 1.6% would be possible, but I would need to sign by the end of the week at the latest, because the interest rates would probably rise again and then I would probably only get around 2.0 - 2.1% for 15 years.

Yes...

First of all, I feel pressured and don’t know how to deal with it. On the one hand, I like the offer, on the other hand, it all feels a bit too fast. Especially considering that no building application has been submitted yet. And even if it is, it will probably take a good 3-4 months at first. At the moment we are working with the architect to finalize the plans so that the building application can finally be submitted.

How do the financial experts here assess the interest rate development? Am I being unnecessarily pressured, or is the interest rate increase real?

Switch immediately - absolutely unprofessional behavior. Reflect that back to him once again...

The interest rate increase is real! Nevertheless, you should not put yourself under pressure because of it. The experts disagree, a general interest rate turnaround is not uniformly expected, so that in four weeks you may (!) see the 1.x for 15 years again.

Can you use this site as a guide? xxx.baufi24.de/tagesaktuelle-hypothekenzinsen/

Hello, I have removed the link; please observe the forum rules. Thank you very much! Best regards from the Rhineland

Hello!

What does purchase/construction of a condominium mean? Is it now concrete and is a new apartment being acquired from the developer?

Basically, it is not unreliable. Construction loans fluctuate and the intermediaries have a certain grace period to submit the concrete application. Only then have you secured a possible condition.

It is comparable to a hardware store offer. Offers are out, potting soil only costs €1.99 for one week. If you come afterwards, the hardware store also says nothing, the price is gone.

The intermediaries are also always notified of a condition change relatively "spontaneously." If the condition drops at the time of application, you should then receive the better one (checking something like this is what makes a good intermediary because he does not earn anything on the condition but on the submitted volume).

A prediction that interest rates will rise by 0.4 to 0.5 percentage points within a week IS unreliable - no one can do that. That is simply pressure to close a deal. Of course, an advisor can (and should) say that he can only guarantee the offer for x days, after which the interest rate changes to an unknown amount & direction.