Asufin calculates that the Euribor can close the year at a figure close to 3%

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the euribor could close 2022 at a figure close to 3%which would translate into a increase in mortgage payments of more than 2,000 euros if a standard loan of 100,000 euros is taken as a reference, with a repayment period of 25 years and a spread of 1%. According to the updated forecasts of the Association of Financial Users (Asufin)this standard loan will become more expensive by 2,078 euros per year if the Euribor is at 3% in December 2022 and the review is made in January 2023, until reaching a monthly fee of 528 euros that month.

After the rise of four tenths of the Euribor in October, until reaching a monthly average of 2.629%, this same loan will become more expensive by 1,819 euros per year if the review is done in November, with the data from the previous month. In this case, the monthly fee will be 508 euros, compared to 355 euros in December of 2021. Regarding the rise in October, from Asufin they assure that, although it has not been as pronounced compared to September, “the escalation of the main indicator used in Spain to calculate interest on mortgages continues its grade”.

The association sent last week to the European Banking Authority (EBA, for its acronym in English) a series of proposals to “relieve the financial burden” which implies the rise in interest rates for families, and which includes facilitating the change from variable to fixed mortgage or raising the possibility of moratoriums at zero cost. In a statement, the association noted that, in general, entities “should facilitate” the renegotiation of mortgagesfor which he believes it is convenient to draw up a guide to good practices with “strict criteria” for entities, in areas such as the marketing of combined products.

Source: lainformacion.com

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