The Euribor closes the year above 3%

Euskaraz irakurri: Euriborrak % 3aren gainetik itxi du urtea

The 12-month Euribor, the index to which most variable mortgages in Spain are referenced, has registered a monthly average in December of 3.018%what represents its highest level since December 2008when it closed at 3.452%, according to provisional data consulted by Europa Press.

This Friday, the index stood at 3.291% in its daily rate, slightly increased compared to yesterday’s record of 3.288%. In this way, he has chained nine consecutive days above 3%.

During the first half of the month, the index had traded around 2.8%after in november show some restraint in his escalation. However, the last meeting of the European Central Bank (ECB) held this month has boosted the indicator to around 3%, after approving another rate hike of 50 basis points until placing them at 2.5%.

If confirmed, the December Euribor would mean that a person who has a 30-year variable mortgage of 150,000 euros and with a differential of 0.99% plus Euribor will suffer an increase in your mortgage payment of around 267 eurosthat is, they would go from paying 447 euros per month to paying 715 euros after the review, which is equivalent to an increase of almost 3200 euros year.

The iAhorro mortgage comparator points out that the Euribor has increased, throughout this year, an average of three tenths each month, and in total, 3.48 percentage points, which translates into highest year-over-year rise that it has experienced in its entire history.

For the director of iAhorro Mortgages, Simone Colombelli, 3% will be the reference value for the next year. “The sensations for 2023 that the entities transmit to us is that the Euribor will continue to risebut very slowly, and the usual thing will be to see mortgage rates also around 3%,” explained the spokesperson for the comparator.