Euribor exceeds 3.3%, reaching levels not seen since October 2002

The main indicator used in Spain to set the interest rate on mortgages climbed to 3306% yesterday, which reached levels not seen since mid-October 2002.

According to analysts, the increase in the twelve-month Euribor, which in April has not dropped any day of the 3% level, will continue to grow, reaching more than 4% by year-end.

These price increases are occurring in line with statements made last week by several European monetary union in favor of an increase in interest rates.

Written by Carlos Lopez on May 3, 2006 3 comments
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