2023-12-22 17:58:01
The rises of interest rates have led to a sharp escalation of euribor which, in turn, has caused strong increments in the quotas of the variable mortgages. Numerous analysts have agreed to point out when will the sales start in the installments of this type of loans.
Despite the initial optimism, analysts consider that the first interest rate cut by the European Central Bank will not occur until third quarter of 2024 (compared to the first quarter of the year as initially believed). This, furthermore, means that the relief for the mortgaged variable rate is also delayed by a few months.
Furthermore, experts agree that the pace of declines in the price of money imposed by the ECB will be slower than the pace of increases. However, they predict that it will be in the month of June when the mortgaged at variable rate begin to notice a relief on your fees after the review of their loans by the Euribor reduction.
This indicator, used as a reference to calculate the majority of variable rate mortgages, closed the month of November in it 4,022% and, although it has been slightly contained, everything indicates that it will close December above 3.9%. Already facing 2024according to the forecasts of Renta 4, collected by La Información, will be around 3.90% in March, in June at 3.75%, in September at 3.55% and at the end of next year at 3,40%. For their part, Bankinter considers that the Euribor will close next year at 3,25%while at CaixaBank they expect it to do so in the 3%.
This decrease will lead to a reduction in mortgage payments of consumers with variable rate loans. Thus, the first drops will be noticed by those who see their quota revised in mayo 2024, although they will be the ones who update their mortgage in the third quarter of the year those who will experience the greatest relief.
On the other hand, regarding the interest rates established by the ECB, although the European organization has avoided commenting on possible reductions, everything indicates that they will occur next year. However, most experts do not expect a reduction before the third quarter.
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