How will be mortgage rates in 2024

After complex years in terms of loans, mainly due to the rise in interest rates on variable installments and the difficulty of access to credit due to stricter conditions on the part of banks for the granting of a loan, 2024 marks a change of pace. If in the first months of the year, we are witnessing the stop of the increases, with the summer the scenario should be that of a slow decrease in interest rates.
Good news, therefore, for all people interested in buying a house, which in 2024 could benefit from a reduction in interest rates.

Forecast on 2024 mortgage

As mentioned above, the first months of 2024 will be characterized by a stalemate, the result of the decision of the Governing Council of the European Central Bank to keep interest rates unchanged: 4.50% for the main refinancing operations, 4.75% for marginal lending operations, 4.00% for deposits.

Around mid-2024, however, analysts expect a cut in rates, expected for over 24 months. In the first nine months of 2023, due to excessive rates, the demand for funding from Italian households had contracted by -19.4%. In 2024, however, things should change, also from other points of view. Let’s find out then the main other news for 2024 mortgages.

How does the first home mortgage bonus change in 2024 for under 36

In the 2024 Legge di Bilancio, the old first home bonus for under-36s was also confirmed in 2024, but only for those who signed and registered a preliminary sale by December 31, 2023. Therefore, only young people falling under this eligibility criterion will be entitled to exemptions from registration, mortgage and cadastral taxes, the VAT tax credit, and the exemption of mortgage replacement tax.

In cases where taxes have already been paid (even if they are entitled to the bonus), the interested parties may request a tax credit to be used during 2025.

Extension of a State Guarantee on Loans 2024

The 2024 Budget Act also introduced another novelty: the extension of the state guarantee on mortgages. This means that the guarantee fund is managed by Consap, the Concessionaire Servizi Assicurativi Pubblici S.p.A.

At the same time, the guaranteed financial cover for insolvents increases from 80% to 100% of the financing, provided that the loan application does not exceed 250,000 euros.

Advice for financing and mortgages with Studio Immobiliare Sì

The mortgage and financing sector is extremely complex, for Studio Immobiliare Sì is also at the side of customers for targeted consultancy, managing in first person the relations between credit institutions and customers who turn to the Firm.
In the case of banks, we also support potential buyers in finding documents useful for the proper conduct of the practice, relieving them of the stress and the commitment of having to manage the bureaucratic burden independently.

On request, we also select the best banking and credit advisors by setting appointments for customers, with the aim of accompanying buyers along the path of choice and purchase of their dream homes.