- The main reference index for variable mortgages registers the third consecutive monthly drop and closes the month at 3.609%, 70 thousandths less than in December
- The installment of a mortgage of 150,000 euros for 25 years with an interest rate of Euribor plus 0.75% that was contracted in January 2023 will register a monthly increase of 22 euros
The 12-month Euribor closed January at 3.609%, 70 thousandths less than the previous month
New truce for the mortgaged. He euribor to sweet months It closed January with its third consecutive monthly decline. Thus, the main reference index for variable rate loans concluded the month with a average rate of 3.609%which seems to confirm the beginning of its de-escalation, marking its lowest value for almost a year.
This figure translates into a decrease of 70 thousandths compared to December. However, despite this decrease, the Euribor remains above its record of twelve months ago. In this sense, the increase compared to January of last year, when the indicator stood at 3.337%, is 272 thousandths.
And although everything indicates that the Euribor has begun the path of moderation, making a forecast of how it will behave in the coming months is difficult. But at Rastreator we are going to analyze what the behavior of the index has been last January so that you can decide if you are interested in a variable mortgage or not, in case you are considering buying a home, or so that you know how it can affect your pocket, if you are already paying a loan referenced to the Euribor.
Daily behavior
The Euribor began January, and the year, breaking the downward trend that marked the last days of December. In fact, the indicator closed the first day of the month at a value of 3.532%, after rising 19 thousandths. To this increase, a new one was added on January 4, which placed the most used reference index in the mortgages of Spain at 3.545%. And although the Euribor fell the next day, the decrease was minimal, since it barely fell by one thousandth, and, furthermore, it was diluted by the strong increase it experienced at the close of the first week of January. And on January 5, the index rose 40 thousandths in its daily rate to 3.584%.
The second week did not start better than the first and the most used indicator for calculate variable mortgages recorded its fourth increase of the month (and of the year). Thus, the Euribor closed on January 8 at 3.616%, after its daily rate increased another 32 thousandths. The indicator gave a truce the next day, registering a drop of 15 thousandths in its daily rate (up to 3.601%), but the joy did not last. The index returned to the old ways with which it had begun the year, resuming the increases for two days in a row, standing at 3.654% on January 11. Nevertheless, The Euribor gave a truce and chained two days of sharp declineswhich practically erased with a stroke almost all the increases of the previous days and placed its daily rate on January 15 at 3.570%.
And although the index started the third week of January with a drop, as if it were a roller coaster, this drop was followed by a new rise, which left it on January 16 at 3.596%, a rate that was repeated on the 17th. and to which on the following day it added the eighth increase of the month, which shot up its daily record by 64 thousandths to 3.66%. However, in that swing of ups and downsthe Euribor closed the third week of the month with a slight decrease of 5 thousandths, which left it at 3.655% on January 19.
To the accumulated increase of 142 thousandths that it had in the first 20 days of January, the Euribor added another 17 thousandths at the beginning of the fourth week, to drop seven, on the day of the 23rd, which closed at 3.665%. Continuing with the oscillations, the reference index most used in mortgages in Spain recorded a new increase of 11 thousandths on January 24, which placed its daily rate at 3.676%, the highest of the month. But, to the joy of the mortgaged, The declines returned on January 25 and lasted for four days, closing on January 30 at 3.553%. However, the Euribor said goodbye to the month by climbing 19 thousandths, an increase that left its daily rate at 3.572%.
How does the behavior of the Euribor in January affect you?
Although the Euribor has fallen again compared to the month of December, this reduction It will not translate into a drop in fees Whoever has to renew their interest with the January figure. And the record of the main reference index for variable mortgages continues to be above what it marked in January of last year (3,337%).
In this sense, those who review their mortgage payments with this value will once again notice an increase in their monthly payment. For example, for a mortgage of 150,000 euros for 25 years with an interest rate of Euribor plus 0.75% that was contracted in January 2023, the fee will go from 799 euros to 821 euros. That is, the monthly payment will increase by 22 euros, which will mean an annual increase of 264 euros.
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Multidisciplinary journalist specialized in economic information, marketing and advertising. She has developed her professional career in different media, mainly print and digital, also including institutional and corporate communication.
2024-02-09 05:53:40
#Euribor #evolved #January #Tracker
