The Euribor, a widely used indicator in Spain to calculate variable mortgages, is expected to close March on the rise again, hovering around 3.72%. This means that mortgage holders who review their loans annually will see a slight increase in their fee, while those who review semi-annually will experience some relief.
As of March, the average 12-month Euribor rate stands at 3.72%, marking a new increase after rising to 3.671% in February. A year ago, the Euribor was at an average of 3.647%, meaning that those who review their mortgage annually will face higher fees. However, for those who review every six months, there will be some relief.
The rise in the Euribor in March is expected to lead to an increase in the fee for mortgage holders who review their loans annually, while those who review semi-annually will see a slight reduction. Analysts believe that the Euribor will likely remain stable or trend slightly downward until June when the European Central Bank is expected to reduce interest rates.
Experts predict that there may be a slight decrease in the Euribor in the second half of the year; however, uncertainties such as economic slowdowns, inflation and geopolitical conflicts could impact its trajectory. Overall, it is expected that the Euribor will fluctuate around 3.7% in the short term with significant drops possible in longer periods.
In conclusion, mortgage holders should stay informed about market trends and central bank decisions to make informed decisions regarding their loans.
It’s worth noting that while fluctuations in the Euribor are closely tied to global economic factors and central bank decisions; mortgage holders must also consider other factors such as creditworthiness and loan terms when making decisions about their mortgages.