The Euribor rises in May to 3.308%
The Euribor, the kind that are granted most mortgages in Spain rose in May to 3,308%, which is at the highest level since August 2002 and represents the eighth consecutive monthly rise and a new, costly mortgages, according to provisional data should confirm the Bank of Spain.
This will result in a rise in shares of mortgage loans which are reviewed annually with the new rate in the coming days.
In particular, a mortgage average of 120,000 euros granted for a term of 20 years with a spread of 0.60 points over the Euribor, the monthly fee would increase from about 653 to 721 euros, which represents an increase of around 68 euros per month and 816 euros in the year as a whole.
The market forecast is that the Euribor falls in summer at 3.5% and even some analysis firms predict that closing the year at around 4%
Written by Carlos Lopez on May 31, 2006 with 0 comments.
