2023-08-28 11:45:09
All those people with variable home loanscontrolled by the euriborThey haven’t had a good time these past few months. This group of people have been main victims of the unstoppable rise in interest rates of the European Central Bank (ECB) and each time they are supporting more monthly increases in their mortgage payments. Although what they most want is for these to decrease or to stop rising, this It will not arrive in the remainder of the year.
Objectives of the European Central Bank
The main objective of European Central Bank (ECB) is the reduction of inflation up to 2% and ensure that they are “closer” to their goal. If something is certain, it is that the price rise in the euro zone has slowed down in the last few months. However, according to the figures for June, this rise continues at high levels: 5.5%.
Lagarde’s statements on mortgages
Related news
ECB President, Christine Lagarde, was asked about a possible stoppage after the rise in rates in September, and her answer did not make anything clear to those with mortgages: “There will perhaps be a new increase in the guideline rates, or perhaps a pause“. In addition, he added that, if this pause occurs, it would not be “necessarily of a definitive nature.”
When will the decline in mortgage prices be noticed?
According to Foundation of Savings Banks (Funcas)not everyone will notice the price drop at the same time, but It will depend on how many times the mortgage is reviewed each year. In this way, those who update their mortgage twice a year will notice the drop before anyone else, specifically in January 2024. On the other hand, those who only review it once will not notice it, at least until April 2024.
#ECB #happen #mortgages #April