2023-08-30 15:13:49
The Euribor to 12 months, index that is used as reference in the majority of mortgage loans at a variable rate in Spain, it will give a little ‘breath’ in August, since it will be around 4.07%, its first fall in 20 months.
With one day to go until the end of the eighth month, this level will be below the monthly rate registered in July of 4.149%, which was its highest level since 2008. However, it will remain elevated compared to August 2022, when the index stood at 1.249%.
However, it will be its first fall in the last 20 months, since since January 2022 it has not stopped rising.
This will mean that a person who has contracted a variable mortgage of 150,000 euros at 30 years and with a differential of 0.99% plus Euribor and you must review your interest rate in August, register an increase in your mortgage payment of about 238 euros per month, compared to the increase of 265 euros that was registered in July.
In this way, your mortgage payment would go from about 572 euros to about 810 euros per month in August.
The mortgage director of the iAhorro comparator, Simone Colombelli, is cautious, as he recalls that August is, historically, a month of declines because everything is paralyzed. “Most likely, we will see more Euribor spikes again starting in September. I would not say that what we are seeing is a downward trend as such, but a small seasonality in the data, “says the expert.
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