The Euribor rises in April to 3221%, the highest level since September 2002

The Euribor, the kind that are awarded most mortgages in Spain rose in April to 3221%, which is at the highest level since September 2002 and represents the seventh consecutive monthly rise and a new cost of mortgages, according to provisional data should confirm the Bank of Spain.

Specifically, the Euribor rose 0.12 points over the 3105% recorded in March and 0.96 points in relation to 2265% where it was placed in April 2005, which will translate into a rise in shares of appropriations mortgage to be reviewed annually with the new rate in the coming days.

Specifically, half a mortgage of 120,000 euros granted for a period of 20 years with a spread of 0.60 points over Euribor, the monthly premium would rise from about 657 to 715 euros, an increase of about 58 euros to months and 696 euros for the whole year.

Further increases

This new rise in the Euribor up to 3221% in April means placed at the highest level since September 2002 when this indicator stood at 3236%.

The indicator continues to show an upward trend since it began the month at 3.25% and ended at around 3.30%. However, the increases have not been scheduled throughout April, and even arrived a few days to fall slightly.

Analysts consulted by Reuters expect the Euribor falls in summer at 3.5%, and even some companies that provide analysis of closing the year at around 4%.

However, analysts believe that the increases will moderate gradually and will not be as intense as in recent months, to see the next move of the European Central Bank (ECB).

(Unrated)

Loading ...

Written by Carlos Lopez on April 28, 2006 with 0 comments.