2023-09-01 02:00:00
Friday, September 1, 2023, 02:00
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Twenty months later, the Euribor finally breaks its upward streak and closes August with an average of 4.073%. Nor is it a figure to ring the bell, since this indicator to which most mortgages at a variable rate are referenced barely falls a few hundredths (0.076) compared to July (4.149%).
This monthly decrease will not, however, prevent the share of Euribor-linked mortgages from continuing to rise in the annual review, since just one year ago –in August 2022– the indicator stood at 1.249%, after taking a notable leap from 0.992% in July.
If we resort to the simulator of the Spanish Mortgage Association (AHE), the monthly extra cost of a Gipuzkoan who must review his loan, for example at 26 years, with the last indicator for August falling, applying a differential of +1 and for a average amount that is around 150,000 euros in Gipuzkoa, the monthly payment shows an increase of 231 euros. That, taken to a whole year, means 2,772 euros more, although it should be remembered that the final amount will always depend on the credit review schedule and the differential that each citizen has committed to their bank.
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