The Bank of Spain confirmed the rise in the Euribor to 3401% in June
What we already knew 19 days ago, was confirmed today by the Bank of Spain (never understand why take so long to make the calculations). So it is possible for us to read it in the media.
So you hit the press release:
The Euribor, the kind that are awarded most mortgages in Spain rose in June 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 Euribor rose 0093 points over the 3308% recorded in May and 1298 points in relation to 2103% where it was placed in June 2005, which will translate into a rise in shares of mortgage loans 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 647 to 727 euros, an increase of about 80 euros a months and 960 euros for the whole year.
This new rise in the Euribor up to 3401% in June poses placed on the highest level since August 2002, when this indicator stood at 3440%.
Analysts consulted believe that this rise will not be the last and predict further increases.
In this sense, 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 in the environment of 3.5% and even some companies that provide analysis of closing the year around 4%.
The Euribor is calculated by the European Banking Federation with the data of the main entities in the euro area and consists of the average interest rate for cash transactions in euros deposit term.
As for the rest of references, MIBOR, the interbank rate which served as the official reference of the mortgage market for transactions made prior to January 1, 2000, also rose in June to 3399% compared to 3306% in May .
The average rate of mortgage loans to more than three years of all the banks in June stood at 4132% from 4048% in May. In the case of banks, the average rate was posted in 4055% 4002% compared to the previous month, while that of the boxes went up to 4200% 4088% since May.
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Loading ... Written by Carlos Lopez on July 19, 2006 with 1 comment.
