The mortgage has been one of the great nightmares of the Spanish in the last times. And although in the last three months the Euribor has moderated its rise considerably, the reality is that in the new mortgage reviews that are taking place, The fees continue to rise.
Less than a month ago, the European Central Bank (ECB) I’ll give you one little joy to those who have contracted a variable mortgage loan when deciding do not raise interest ratesthus breaking a streak of ten consecutive increases.
However the greatest desire of the mortgaged It is not only that interest rates remain at the current 4.5%, but that descend so that the Euribor also goes down and the Mortgages become cheaper.
In that sense, the economist and professor at the University of Barcelona (UB), Gonzalo Bernardoshas made a prediction on the performance of the real estate market in 2024 which, in part, will make many happy.
On the one hand, Bernardos has indicated that the current decline in home sales (due to the tightening of financing caused by constant rate increases) It will also continue through 2024.
But, on the other hand, the expert expects that there will be a change of trend in the real estate sector in the second half of the year 2024. Everything would start from a decrease in inflation that would cause a Domino effect: lower interest rates, reduction of the Euribor and cheaper mortgages.
Specifically, during a conference organized by the General Council of the Official Associations of Real Estate Agents of Spain, Gonzalo Bernardos has predicted that “starting May 2024 will occur first drop in interest rates to 4.25% y We will close next year at 3.5%.”
It is worth remembering that interest rates they find each other closely related with the Euribor performanceso if Bernardos’s prediction came true, variable mortgage payments would beginal fin, a bajar. Only time will tell if the forecast of the economist and professor at the UB is accurate or not.
2023-11-15 18:49:00
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