While mortgage applications for families and businesses go down, companies return to invest
The trend observed in the last quarter of 2022 continues, which sees a decline in mortgage applications. The first three months of the current year also showed signs for families and businesses a decline of 15 and 10% respectively. However, March also marks a return of investment by companies. Stefano Cappellariregional director Piedmont North, Valle D’Aosta and Sardinia of Intesa Sanpaoloduring an interview with Adnkronos, illustrates the reasons for this phenomenon.
“On families – explains Cappellari – they have influenced above all rising rates, inflation and energy costs. As far as businesses are concerned, however, there was a moment of reflection to understand how 2023 would evolve. However, while for households we continue to record a decline in mortgage applications, for companies there is a recovery and a return on investmentthis is because it has been seen that 2023 will not be a recessionary year but one of growth, albeit more contained than in 2022″.
With regard to companies, it is clear that “to remain competitive, some investments, such as those on sustainability and the digitizationare essential regardless of the economy or interest rates”. As far as households are concerned, on the other hand, despite the fact that a further increase in interest rates is foreseeable, the director invites “not to postpone the purchase of a house because rates are at sustainable levels and above all the flexibility of the structures has increased”. “For example – he concludes – for mortgages to families we are favoring access for young people under 36 with favorable conditions and with flexibility, which means the possibility of reaching up to 40 years, for the first 10 years an installment of interest only and free of charge for a possible suspension or moratorium on extension”.
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