The European Central Bank has raised interest rates by 25 basis points, bringing interest rates to their highest level since November 25, 2008.
The Euribor is at 4% in its daily rate after the European Central Bank (ECB) announced an interest rate hike of 25 basis points yesterday, bringing the reference rate to 4%.
According to the data, the rate stands at 4.020% today, which represents the highest level since November 25, 2008, when it was placed at 4.051%.
For example, the average monthly interest rate is already at 3.928%, 0.066 percentage point higher than in May, when it closed at 3.862%.
iAhorro’s mortgage director, Simone Colombelli, believes that the 12-month Euribor could close its monthly interest rate at 4% after yesterday’s rise, something that hasn’t happened since November 2008, when it hit 4,350%.
Colombelli predicts that the ECB will raise rates again by 25 basis points at its next meeting, although stabilization could come later. “We will stay at 4.25% for a while to see if inflation is under control in the short or medium term. If that happens, a decline could be considered,” he says.
In addition, he points out that the feeling of the banks is that 2023 is a year of “transition” and that in 2024 the mortgage market will “improve”.
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.
