The average rate on loans to European households for house purchases rose 8 points in June, to 4.48%

So in Europe, because more than 95% of mortgages are still a variable interest (lower today, tomorrow we do not know ...).

In June 2006, the average interest rate charged by financial institutions in the euro area to new housing loans were higher than in the previous month, when the Eurozone households paid an average rate of 4 40%.

This upward trend is in line with the prices listed by the Euribor. The latest official data published by the Bank of Spain up to June 2006, where the Euribor reached 3401% 2103% compared to that recorded in the same month the previous year, an increase of more than 1,200 basis points.

Due to the differences that apply finacieras institutions, families usually end up paying almost 1,000 basis points over Euribor official (in June was 3401% and the average rate was finally paid 4.48%).

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Written by Carlos Lopez on August 16, 2006 0 comments.