The interest on a loan is the decisive factor for the level of the total burden on the debtor, especially in the case of long-term financing – a difference in interest rates of just 0.5% can become a five-digit financial disadvantage for the borrower over the years. Accordingly, it makes sense to take a closer look at the development of interest rates on loans in advance.
Interest rates fell sharply as a result of the financial crisis and remained at this low level for quite some time. Now 2011/2012 is rising again slightly, and most experts believe that they will continue to climb and will at least regain their old level. The problem with such forecasts is that they can apply, but do not have to – that, contrary to the experts’ opinion, it can also look completely different on the financial market in one year than forecast.
I don’t need my loan yet
So what should people do who, for example, only need the loan in a year, then possibly want to accept the higher interest rates that predict the development of interest rates on the loan? In this case, there are basically three options: wait and speculate on a constant interest rate level or even lower interest rates, use a forward loan or conclude a home savings contract.
The forward loan is used to secure the current interest rate, and thus to benefit from the “reserved” interest rate in the event of an adverse interest rate development for loans. However, there is a small interest surcharge on the existing interest that the borrower has to pay; Of course, a forward loan can also turn out to be disadvantageous: namely when interest rates on the financial market have nevertheless fallen.
With a home savings contract, you start with a savings phase and keep it until the home loan is ready for allocation. The builder benefits on the one hand from his saved credit and from the low-interest home loan.