Euribor July: 3546%

And van 10 months of consecutive rises!

In July has happened over the same. The index has rebounded by over 130 basis points regarding the data July 2005 and has topped the 3.53% 3546%, the highest level since just four years ago, then stood at 3645% - with what the consequence for mortgages is more than evident. Who would touch review of the loan with this data, you'll have to pay a higher fee, to the point that it can begin to wreak havoc on the family budget.

The holder of a loan half (remember that this is an average of mortgages active, not new), according to the National Statistics Institute (INE) in April was at the 138,958-euro, a 25-year term and a differential of 0.5%, you will have to pay a monthly fee of 735.78 euros, compared to 635.21 euros that he had to pay with the Euribor July 2005.

This implies that the upswing in the Euribor will pay 103 euros a month, a round figure, and a year disbursement reaches magnitudes in the family finances, 1,242 euros.

This is almost two share more than it paid so far. Virtually it is as if the mortgage had happened to have two more shares.

The tenth rise in the Euribor, with final data published as the Bank of Spain in just over two weeks, also has another important effect. If the monthly average of 3546% in July was the differential sum to be paid, most cases exceeds the 0.5% - the owner may begin to pay interest and above 4% on their mortgages. It is bad news for consumers, given that household debt already exceeds 110% of disposable income.

(Unrated)

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Written by Carlos Lopez on July 31, 2006 with 6 points.