The 12-month Euribor ended April at 3.757%, resuming the upward path that had slowed in March as the market believed the financial turmoil would lead the European Central Bank (ECB) to ease monetary policy and not raise interest rates. to increase further. It did not, and the ECB raised another half percentage point in mid-March, from 3% to 3.5%. Exactly one year ago, the Euribor returned positive for the first time since 2016. In April last year it stood at 0.013%, which means it has risen by 3.744 percentage points in one year. This gives an idea of the rate at which this indicator has increased, by which variable mortgages are calculated, and therefore the sudden increase in the cost of loans. Assuming the amount and the average repayment term of a mortgage in Spain, which is 150,000 euros and 24 years, with a loan to Euribor plus one point, the increase would be 288 euros more per month with an annual rate review. Desktop Code !function(){“use strict”;window.addEventListener(“message”,(function(a){if(void 0!==a.data[“datawrapper-height”]){var e=document.querySelectorAll(“iframe”);for(var t in a.data[“datawrapper-height”])for(var r=0;r[r].contentWindow===a.source){var i=a.data[“datawrapper-height”]
Source: La Verdad
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
