The Euribor almost doubles in September and will make new mortgages more expensive by € 2,800

The euribor gives no respite The hikes in interest rates announced by the European Central Bank (ECB) and the Federal Reserve (Fed) to contain inflation continue to fuel the main reference index for variable mortgages, which are the majority in Spain. Just two days after the close of the month, the Euribor already exceeds daily share 2.6% and it’s about to end September with an average level of 2.2%, almost double that of August, when it reached 1.249%. An increase that will lead to a new increase in mortgage payments, especially those of recently signed loans.

The Futur Finances mortgage portal calculates that for a mortgage with annual review requested last year at thirty with a nominal Euribor rate + 1% and residual debt of 180,000 euros, the monthly payment will go from 539 euros to 770 euros. In other words, an increase of 231 euros per month e € 2,772 more per year.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.