Dubai United Arab Emirates
The wave of inflation and high interest rates caused by the Iran war have increased the burden on those wishing to buy homes and the construction sector in Germany alike, as the cost of mortgage loans has now reached its highest level since 2009.
The average interest rate on ten-year mortgage loans was about 4.5 percent, according to data from brokerage firm Interheal, said Jürge Oticht, the company’s chief executive.
The average interest rate was still at 3.9 percent in May. The current interest rate, slightly above 4.4%, surpassed the previous peak recorded at the end of 2023, according to the interest rate chart published by the company.
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