January 2007
You're watching the articles of Euribor for the month of January 2007.
I was surprised to read this new proposal today for Caja Duero, undoubtedly the últma chance of getting unsuspecting customers who do not know numbers. I refer to the article written here "Mortgages 100 years"
Undoubtedly, the banks are showing with this type of proposal that we want to keep taking the hair and they think we are fools.
There goes the news (heard in 20 minutes)
Caja Duero launched a mortgage for young people who will offer an interest rate of Euribor plus 0.25 percent and a repayment period of 52 years.
With this aggressive entity bid seeks to increase market share and presence in the youth segment, said the Fund, which has set as its objective the recruitment of 20,000 new young customers in 2007.
The 'Mortgage Duero Joven Tranquility' part of a standard interest rate of Euribor plus 0.50 percent, but you can get a bonus to put the figure at 0.25 percent.
Requirements during the first year
- Household income in newspapers Caja Duero (payroll or social insurance).
- Recruit in Union Duero home insurance and life insurance.
- Recruit in the state pension, the service line banking Duero distance and a Visa Classic credit card.
The deadline for repayment of the loan could reach 52 years.
No charge will be levied opening board if a contractual protection insurance payments.
Nor was Repayment will pay any commission or partial early cancellation.
Written by Carlos Lopez on Jan. 31, 2007 with 34 comments
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This is the average for the month of January, in the absence of knowing the value of tomorrow (which will also not vary much value).
We are therefore above the psychological threshold of 4% and the highest level of this stock since August 2001 and already we have 16 consecutive hikes.
By accounts, in a mortgage average, which according to recent data from the National Statistics Institute (INE) stood at 144,216 euros, to a term of 25 years and with a spread of 0.50 points over Euribor, the monthly fee would happen of 709 euros that he had to pay in January 2006 to around 806 euros, representing a monthly increase of 97 euros in shares and an annual rise of almost 1,200 euros.
Written by Carlos Lopez on Jan. 30, 2007 with 8 comments
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Source: Reuters
The average amount of the mortgage s up on residential stood at 144,216 euros in November, an increase of 10.3% over the same month of 2005 and 0.9% higher than in October, according to statistics mortgages issued today by the National Statistics Institute (INE).
For his part, the average amount per mortgage constituted on the total farm and urban areas stood at 159,154 euros, 10.3% more than the same month of 2005 and 0.3% higher than in October.
In the eleventh month of the year, mortgaged a total of 155,799 farm and urban areas, representing an increase of 5.1% over the same month last year, amounting to 24,796 million euros, 15.9% more .
The savings were the entities that granted greater number of mortgage loans in November this year, with 57.9% of the total, followed by banks (33.5%) and other financial institutions (8.6%) . As for the loan, the savings banks granted 55.7% of the total, 37.2% banks and other entities, 7.1%.
Written by Carlos Lopez on Jan. 30, 2007 with 1 comment
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With the entry into force of the new law mortgage history, scheduled for within a couple of months, it will be easier and cheaper to improve the conditions mortgage through a change with it.
In fact, one of the objectives it has moved the government to draft a reform of the Mortgage Law is to alleviate the unsustainable situation of many households, which have seen their debts increase substantially with the rise in interest rates. And for that reason, have decided to include in the preliminary Modernization Act of Mortgage Market improvements that lower mortgage change
Note that this is one of the few measures that the government can do to cushion the steady rise in interest rates, since they are not in the hands of the government if the European Central Bank (ECB)
Top aspects of the new mortgage law:
The reform establishes a lowering of the notary and registration costs in the openings, cancellations and subrogation of mortgages. At present, customers who switch their mortgages have to pay 25% of charges and registration. With the new law, the percentage drops to 10%. Moreover, in the case of notarial fees, the project is expected to pay a fixed amount (from 90 euros) by the amount of documents that exist in the scriptures, which would also mean a lowering of costs for notarial holders of the mortgages.
The planned reform also reduced from 1% to 0.5% maximum by the commission early cancellation of variable interest mortgages. In subscribed to the fixed rate of 0.5% this percentage may be increased only in the event that interest rates at the time of the cancellation of the loan are in excess of the rate at which the mortgage was hired.
More at http://www.euribor.com.es/2006/10/25/borrador-de-la-nueva-ley-hipotecaria-2/ information
Written by Carlos Lopez on Jan. 29, 2007 with 16 comments
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Axel Weber, president of the Bundesbank (German central bank) said today that the reference interest rates from the European Bank Cenral (Euribor) are still low and persistent risks of pick-up in inflation in the medium and long term.
We will see how these comments are reflected in the price of today's Euribor.
Written by Carlos Lopez on Jan. 26, 2007 with 29 comments
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