It represents a new recovery compared to the 3.609% recorded in the month of January and an increase from the 3.534% a year earlier.
He Euribor is on its way to the month of February located at 3.666%According to calculations by Europa Press, this represents a new increase compared to the 3.609% recorded in the month of January and an increase compared to the 3.534% observed a year earlier.
Debtors who have to review their mortgage using the February Euribor data as a reference will experience the lowest price increase in almost two years, as the difference compared to February 2023 is only 13.2 basis points. In January this difference was 27.2 basis points.
During the second half of 2022 and the first half of 2023, with the change in the monetary policy of the European Central Bank (ECB) There was a very rapid recovery of the Euribor, with year-on-year increases of more than 380 basis points (3.8 percentage points).
In this way, although the reference interest rate will rise slightly in February compared to January, this is still the case below highs of 4.15% recorded during the summer of last year.
The February data shows that for a model mortgage with a variable rate, the increase in the payment would be approximately 12 euros per month. The increase in real mortgage costs would be lower, because in this example the entire capital of the mortgage is offset against the entire term. With the amortization system used in Spain, the early years of repayments are when more interest is paid, so older mortgages see smaller increases in their repayments.
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.
