2023-08-21 15:47:10
The inflation suffered by Western economies is being combated with a planned rise in interest rates. The rise in the price of money is fully affecting the pocket of all families with a variable mortgage. Citizens with a mortgage loan subject to reference values such as the Euribor have seen unprecedented growth in their monthly payments after each review.
Those with mortgages in Spain and those who are thinking of buying a home can only ask themselves one question: when will interest rates begin to fall? A reference such as the economist Santiago Niño Becerra, who rose to fame by predicting the great crisis of 2008, has set a date.
In an interview with Radio Euskadi, he commented on the decision of the European Central Bank: “The inflation we currently have in the world is supply-side and it is not combated by raising interest rates, it is combated in other ways.” In his opinion, the European authority has taken this path because it is the “easiest”: “In the end prices will end up falling because the supply will be further restricted, with which prices will fall.”
When asked about when interest rates are going to drop, Becerra explained that “it takes a long time to see the impact that the rate increase has on prices” and points out that it will take between 7 and 10 months to see the results.
Regarding the possibility raised by Christine Lagarde that they could raise rates again in September, Niño Becerra believes that this is more than likely to happen: «Many experts think that it will happen, we can reach 4.5% and from there, in The theory, after two, three, four months, when it is seen that prices do not rise any more, they could start to fall ».
According to his predictions, we will have to wait until January to see a decrease: «What happens is that we imagine that this winter is cold, there are supply problems, etc. This will again be negative in the face of inflation. Then the lowering of interest rates would be delayed.
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