The 12-month Euribor, a widely used indicator in Spain to calculate variable mortgages, is set to close March with a rise, hovering around 3.72%. This slight increase in the fee will affect those who review their loans annually, but there will be some relief for mortgage holders who review their loans semi-annually.
As of March, the average 12-month Euribor rate stands at 3.72%, an increase from the previous month’s average of 3.671%. A year ago, the Euribor was at an average of 3.647%, so those who review their mortgage annually will see a higher fee. However, for those who review every six months, there will be some relief.
The rise in the Euribor in March will 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 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’s expected that the Euribor will fluctuate around 3.7% in the short term with the possibility of significant drops in the longer term.
In conclusion, mortgage holders should stay informed about market trends and central bank decisions to make informed decisions regarding their loans.
