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Estate Agents Forecast a Mortgage “War” And a Decrease in House Prices

Real estate agents are forecasting a drop in both house prices and mortgage rates, although they expect the conditions of access for mortgages to tighten.

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House prices and mortgage rates are expected to drop further, according to a study by the Official Colleges of Real Estate Agents COAPIS. These decreases will arise due to the economic consequences of the pandemic and are expected to result in a war between credit institutions to subrogate mortgages between them.

Cayetano Rengel Pérez, Vice President of the General Council of the Official Colleges of Real Estate Agents, considers two potential clients who may benefit or suffer from this situation: on the one hand, those who are in a good economic situation will be able to take advantage of the decreases in interest rates resulting from the war between entities. On the other hand, those with less economic clout will be adversely affected by the tightening of borrowing conditions.

Read the full article in Spanish.

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