The 12-month Euribor recorded a monthly average of 3.018% in December, the highest level since 2008.
Euskaraz irakurri: Euriborrak % 3aren gainetik itxi du urtea
The 12-month Euribor, the index to which most variable mortgages in Spain refer, has registered a record monthly average in December of 3.018%what represents the highest level since December 2008when it closed at 3.452%, according to preliminary data consulted by Europa Press.
This Friday, the index was at 3.291% at its day rate, slightly up from yesterday’s all-time high of 3.288%. In this way he is chained nine consecutive days above 3%.
During the first half of the month the index had traded about 2.8%after inside November showing some restraint in his escalation. However, the last meeting of the European Central Bank (ECB) this month pushed the indicator up to around 3%, following the approval of a new rate hike of 50 basis points until they are placed at 2.5%.
If confirmed, December’s Euribor would mean that a person holding a 30-year variable mortgage of EUR 150,000 and with a difference of 0.99% plus Euribor will suffer an increase in your mortgage costs of approximately 267 eurosthat is, after the assessment of 447 euros per month, they would go to 715 euros, which corresponds to an increase of almost 3200 euros year.
Mortgage comparator iAhorro points out that the Euribor has increased by an average of three tenths per month this year, a total of 3.48 percentage points, which translates into highest annual increase that it has experienced throughout its history.
For the director of iAhorro Hypotheken, Simone Colombelli, 3% becomes the reference value for the following year. “The sensation for 2023 that the entities are passing on to us is that the Euribor will continue to risebut very slowly, and it will be common to see mortgage rates around 3% as well,” explains the comparator’s spokesperson.
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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.
