Madrid, March 31
The Euribor of March 2023 closes at 3.647% and points to an exhaustion of the rise in interest rates
The Futur Finances team of analysts together with the experts from Euribor.com.es have been monitoring the daily values of the 12-month Euribor from March 2023, to try to decipher its future evolution until the end of the year. The month began with an intense a rise that pointed to 4%, to fall sharply after the banking fear that exploded in the markets with the Silicon Valley Bank case and its spread to Europe via Credit Suisse. After touching bottom at 3.322%, it resumed its upward path to 3.622% on March 31. For the Futur Finances economist Pau A. Monserrat, certain clues can be extracted from the movements of the mortgage reference to predict how 2023 will close: “Although the forecasts are still bets with information, the daily values have reflected a fear exacerbated by the crises of American regional banks that such an intense rate increase derails the real economy. However, the rises at the end of the month indicate that the target of 4% at the end of the year is still plausible”. Carlos López from Euribor.com.es has calculated the impact of the rise in interest on a mortgage of €180,000, at 25 years and at a nominal interest rate of Euribor 1 %. According to the expert, “with the review, the mortgage payment will go from €659 to €1,000, an increase of €341 per month, €4,092 per year.” In an economic scenario as volatile as the current one, any forecast is compromised by circumstances. The trend seems to be, however, for a slowdown in the escalation of mortgage interest and an ever closer ceiling, pointing to 3.75% or 4% at the end of the year.
Contact Contact name: Pau Antoni Monserrat Valentí Contact description: Economist at Futur Finances Contact telephone number: 971415067
