The Bank of Spain confirmed the rise in the Euribor andalusia% in June 3401

We already knew that 19 days ago, confirmed today the Bank of Spain (never understand why it takes so much to make the calculations.) So it is possible to read it again in the media.

So you hit the press release:

The Euribor, the kind that granted most of the mortgages in Spain, in June rose to 3401%, which is at the highest level since August 2002 and represents the ninth consecutive monthly rise and a new cost of mortgages, confirmed yesterday afternoon the Bank of Spain.

Specifically, the 0093 points over Euribor rose to 3308% in May 1298 points to 2103% in relation to which was in June 2005, leading to a rise in shares of mortgage loans to be reviewed annually with the new rate in the coming days.

Specifically, an average of 120,000 euros mortgage given to a term of 20 years with a spread of 0.60 points over Euribor, the monthly fee increase from about 647 to 727 euros, an increase of about 80 euros andalusia months and 960 euros in the whole year.

This new rise of the Euribor until% in June 3401 means placed at the highest level since August 2002 when this indicator stood at 3440%.

The analysts considered that this rise will not be the last and predict further increases.

In this sense, they believe that the possible rise in interest rates by the ECB in August supports this trend and, indeed, the level of the Euribor at 3.4% and the increase seems to discount the price of money.

Market forecasts is that the Euribor will fall in coming months at around 3.5% and even some companies that provide analysis of the closing years about 4%.

Euribor is calculated by the European Banking Federation with details of the main entities of the euro zone and in the average interest rate for cash transactions in euro term deposit.

As for the rest of references, MIBOR, the interbank rate that served as official reference for the mortgage market operations performed prior to 1 January 2000, also rose in June to 3399% compared to 3306% in May .

The average rate of mortgage loans over three years all the credit in June stood at 4132% from 4048% in May. In the case of banks, the average rate was set at 4055% 4002% compared to the previous month, while the boxes up to 4200% 4088% since May.

Written by Carlos Lopez on July 19, 2006 1 Comment
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