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
Get a daily dose of Pittsburgh Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Pittsburgh Star.
More Information]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
Washington DC [US], June 29 (ANI): Fans of iconic singer-songwriter Paul Simon were left disappointed after the artist cancelled his...
(250626) -- NEW YORK, June 26, 2025 (Xinhua) -- Khaman Maluach (R) poses for a photo with NBA commissioner Adam Silver after being...
In reality, China, as the second-largest source of U.S. imports, supplies high-quality, competitively priced goods that have helped...
WASHINGTON, 7th June, 2025 (WAM) -- The United States recorded 122 new measles cases this week, with only four reported in Texas. Health...
WASHINGTON, 27th May, 2025 (WAM) -- Two people were killed and nine others, including three teenagers, injured in a shooting at Philadelphia's...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...