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Effektivverzinsung und Volatilität bei Finanzierung mit Zinsbindung und variablen Zinsen
[Effective interest rates and volatility for fixed-rate and adjustable-rate mortages]

Author

Listed:
  • Jörg Clostermann

    (Technische Hochschule Ingolstadt)

  • Franz Seitz

    (Ostbayerische Technische Hochschule Weiden)

Abstract

Zusammenfassung Wir stellen einer festen Zinsbindung von 10 Jahren bei Wohnungsbaukrediten eine monatliche an einem Kurzfristzins angepasste Zinsbelastung bei unterschiedlichen Rückzahlungsfristen gegenüber. Dafür werten wir Monatsdaten seit den 1950er Jahren für Deutschland aus. Damit greifen wir mehrere Zinszyklen, Zinserhöhungs- und Zinssenkungsphasen ab. Im Ergebnis finden wir, dass in der überwiegenden Mehrzahl der Fälle kurzfristig variable Zinsen eine geringere Zinsbelastung nach sich ziehen. Und diese weisen auch noch geringere Schwankungen auf.

Suggested Citation

  • Jörg Clostermann & Franz Seitz, 2020. "Effektivverzinsung und Volatilität bei Finanzierung mit Zinsbindung und variablen Zinsen [Effective interest rates and volatility for fixed-rate and adjustable-rate mortages]," Zeitschrift für Immobilienökonomie (German Journal of Real Estate Research), Springer;Gesellschaft für Immobilienwirtschaftliche Forschung e. V., vol. 6(1), pages 29-46, April.
    • Handle: RePEc:spr:gjorer:v:6:y:2020:i:1:d:10.1365_s41056-019-00029-w
    DOI: 10.1365/s41056-019-00029-w
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    References listed on IDEAS

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