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Spain, February 21, 2023.
The Euribor does not show signs of exhaustion and could reach 4% in the coming weeks
On Monday, February 13, the Euribor marked another milestone in its upward trend that began a year ago, since the most used indicator in Spanish mortgages exceeded 3.5% for the first time since 2008. The reasons for the increases in recent days can be find in the statements of various members of the ECB that all point in the same direction, continue with the current monetary policy of raising rates until inflation is controlled. More and more analysts are forecasting a Euribor above 4% over the next months, something unthinkable just a few weeks ago but unfortunately it is just around the corner. It would be enough for the Euribor to rise during the next two months the same as it has done in the previous two months to have it above that fateful figure. Carlos López, from Euribor.com.es, who has been analyzing the behavior of the Euribor since 2005 warning of this situation: “it is a matter of weeks before we see the Euribor at 4% and in the short term we do not see its upward trend ending, the ECB was late in its fight against inflation and now it has been forced to raise rates hastily and their hand will not tremble until they achieve it”. However, despite how complicated the situation is for those who have a variable mortgage, Euribor.com.es offers a piece of information for hope, “currently the Euribor is well above its historical average (which does not reach 2%), so we could consider that the current values are abnormally high and will tend to fall during the mortgage amortization period, since we would be at the top of the index. dicador”. Faced with this situation, there are many families who have opted to change their fixed mortgage to a variable one and as Euribor.com.es points out, it is convenient not to rush: “a mortgage is a financial product that will accompany you during half a life and you must not let yourself be carried away by the feelings of the moment, which at this moment are mainly fear, and think in the very long term”.
Contact Contact name: Carlos López Contact description: Carlos López Contact telephone number: 666625624
