This month’s recovery is the third highest this year so far, after September and June.
Euskaraz irakurri: Euriborra apaldu egin da urrian, baina azken 13 urteetako maximoetan dago oraindik
The one-year Euribor, the most commonly used interest rate in Spain to calculate mortgages, has risen almost four tenths in October, with a monthly average of 2.629%, and the rate of increase moderates compared to September, although the percentage for October remains the highest since January 2009.
Despite the calm in October, this month’s recovery is the third highest so far this yearbehind those of September and June.
With this increase, those who have 25 years have a variable rate mortgage of 145,000 euros (the average mortgage amount according to the INE) for 25 years, with a difference of 1% on the Euribor, and who have to check against the data for the month of October will have their monthly costs are increased by 40% compared to last year, about 220 euros more.
The increase in the installment amount for this standard mortgage for the whole year is approximately 2,650 euros.
According to the latest INE statistics, corresponding to last August, in Spain 30.6% of mortgages have a variable interest rate and the rest have a fixed interest rate, which averages 2.85%.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
