Although households that are paying a mortgage are the ones that are registering a higher cost for their housing, the ECB’s analysis again makes a distinction, as*mortgage holders with fixed rate loans have not been affected by the 10 increases in the price of money*that it has carried out, unlike those who are paying a mortgage at a variable interest rate.
In terms of individual eurozone countries, there is also significant heterogeneity in housing costs and, moreover, the difference is substantial when considering the higher proportion of variable rate mortgages, especially in countries such as *Italy and Spain*. Both are the countries with the largest difference between the average cost with and without mortgages.