The Euribor rises in May to 3.308%

The Euribor, the kind that are awarded most mortgages in Spain rose in May to 3308%, which is at the highest level since August 2002 and represents the eighth consecutive monthly rise and a new cost of mortgages, according to provisional data should confirm the Bank of Spain.

This will translate into a rise in shares of mortgage loans which are 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 653 to 721 euros, an increase of about 68 euros to months and 816 euros for the whole year.

Market forecasts is that the Euribor is placed at 3.5% in the summer and even some companies that provide analysis of closing the year at around 4%

Written by Carlos Lopez on May 31, 2006 0 comments
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