The Association of Financial Users (Asufin) forecasts that the Euribor will reach the level of 4% in June of this yearwhich means an increase for every 100,000 euros of mortgage, with a differential of 1%, of just over 2,000 euros.
This revision will show an increase in annual cost in just one yearif the event in 2022 is taken into account, of 2,769 euros, according to the association’s calculations.
With the monthly closing data for December, which has stood at 3.018%, Asufin highlights that, beyond having overcome the psychological barrier of 3% and returning to rates that they had not seen since 2008, what is relevant is that the year 2022 has closed with an acceleration in the rise of the Euribor in December.
And it is that, although at the beginning of December there was a sustained rise, in ranges of 2.8%, it ended with levels of 3.2%, to close at a monthly average of 3.018%. “In other words, we started the month of January comfortably installed above 3%,” she remarks.
According to the association, what is going to start to be seen is a “second round” of the increases in 2022, especially from the month of June, when the first big jump of the Euribor was made.
In fact, if it is taken into account that that month there was a rise of up to 754 euros for every 100,000 euros of mortgagethe Euribor forecast that Asufin estimates for June 2023 is 4%.
In this context, Relief measures for mortgaged families have entered into force, which will not be neutral from an economic point of view.
In the case of deferring the debt for up to 7 years, they can make the loan more expensive by up to 16,000 eurosin an average mortgage of 100,000 over 25 years, with a Euribor +1%, he indicates.
In addition, points out that the lack of Euribor -0.1% represents “significant relief” for 5 yearsby lowering the fee from 508 euros to 211 euros, and supposes an additional final cost, in terms of interest rate, of just over 1,200 euros.
To facilitate custom calculation, Asufin have launched three calculators that will allow the cost of each of the measures to be determined as well as contracting a mortgage that is discounted on the condition of subscribing another series of products, such as insurance, pension plans, among others.