Here we will tell you everything about the increase in the Euribor in May. The most used reference indicator for it is close variable rate mortgages in the country has ended the fifth month of the year with a provisional average of . Continue reading the article to know more about it. What is the Euribor? First of all, we must make clear what we mean when we talk about the Euribor to avoid confusion. The Euribor is the reference index most used in Spain to link variable mortgages. Is an index that has replaced others that were less effective in carrying out this real estate operation . It is essential to make it clear that the Euribor will only affect you if you are going to take out a variable or mixed rate mortgage in the variable part of it . It is in no way linked to fixed rate mortgages, since they are governed by other parameters. The name Euribor derives from the acronym Euro Interbank Offered Rate . This is the interest rate at which banks lend money to each other, in the short term . It is for this reason that it fluctuates, rising or falling constantly.
The increase in the Euribor in May
The -month Euribor has closed the month of May with new increases . The reference indicator for most variable mortgages in the country registered a provisional average of , in May. This is a clear increase if we compare it Thailand Telegram Number Data with the in April and even more so if we take into account that last year, in May, the Euribor was at . This is why the Euribor is at its highest since November What is the reason for this increase in the Euribor in May? This new rebound is undoubtedly due to the upcoming interest rate increases that the European Central Bank (ECB) will carry out in the upcoming meetings of the Governing Council. The main objective of these rate increases is to stop the escalation of inflation and ensure price stability in the eurozone. In summary, the aim is for the price increase to be around in the medium term.
What are the forecasts?
Today, the price of money is at and it is believed that more increases will take place. As some of the members of the highest monetary and financial authority of the region of the common currency have already shown. However , the market expects lower intensity increases and anticipates that there will likely be a pause during the summer. What the ECB has assured is Japan Telegram Number that interest rates will remain. At a restrictive level for an extended period of time and. For now, no rate cuts are expected at least until the second half of In this context, the Euribor is at its highest level since. November when it was at , and continues to increase the installments of variable rate mortgage loans referenced to this indicator. So, all consumers who must carry out a review of the economic conditions. Of their variable mortgage will have to face an increase in the average monthly payment of euros and up to , euros annually.
