The Euribor in July Without a doubt, for those who have a variable mortgage, the closing of the Euribor in July is not closes with an good at all. However, it may bring some hope. The evolution of the daily Euribor in July has surprised us quite a bit . At the beginning of the month, the variations were significant. On July it was at , on the th it reached the monthly maximum, with . Then, for the second fortnight of the month, it dropped surprisingly, which caused us to end the month with lower values than at the beginning. The lowest of the month was July , with . So, the Euribor in July is located at . In June it stood at , which means that the increase was . If we compare it with July of last year, the increase was ,. It was at that moment when the European Central Bank (ECB) began raising rates to address inflation. From that moment on, the Euribor has risen relentlessly.
The latest rate hike has not yet affected the Euribor
On July , the ECB carried out a new increase in interest rates, going from to . With this, there are already nine consecutive rate increases starting in July . However, the reality is that the Euribor has not yet reacted to this Iran Phone Number Data latest rate increase. In fact, the closing of the Euribor in July has allowed us to see the lowest value of the entire month. You are probably wondering if this means that the Euribor will not be modified by the ECB’s rate hike. The reality is that this is very unlikely . Although they do not act symmetrically, one value is closely linked to the other. This is because the ECB rates reflect the minimum interest at which money is lent to eurozone banks , on the other hand, the Euribor is the average interest at which eurozone banks lend money . This is why the link between the two is very large , making it difficult for the rate hike not to affect the Euribor.
When does the latest rate hike take effect?
The new ECB rate hike comes into effect on August , and will most likely cause the. Euribor to increase just as it did with the previous ones. The important thing is to know what amount that increase will be . The fact that the last value of the Euribor in July is the Russia Phone Number List lowest of the entire month gives us an indication that the increase may be lower than expect. If you are interest in knowing how the evolution of the Euribor can affect your mortgage, whether you already have one or are thinking about applying for one, it is best to use a mortgage simulator. What are the forecasts for the evolution of the Euribor for the coming months? Without a doubt, when we question what the Euribor forecasts are , we must ask ourselves what decisions the ECB will make in the future. Regarding this point, the reality is that nothing has been establish yet . The next meeting will take place in September , and the only thing that seems unlikely is that a rate cut will take place.
