[19 of January: The Euribor already is in the -0,1%]
The indicator is located, exactly, in the -0,101% in daily rate and the -0,095% in monthly rate, 0,137 points lower than in January of 2016. With these values, a mortgage of 120.000 euros to 20 years with a differential of Euibor 1% to touch review will take a reduction of a 87 euros on their annual fee the, What is the same, 7,2 euros to the month.
The Euribor ventured in February of 2016 in negative terrain for the first time in history the ultraexpansiva policy of the European Central Bank (ECB) to shore up the recovery in the euro area. Since then, the index remains sunk below the 0% -current level of the interest rates in Europe- about to turn 12 months in a row. While it is true that the falls are slowing down.
The analyst of XTB Carlos Fernández He told Europa Press that along 2017 the ECB will continue with its stimulus program, a scenario in which Wait, what “the drip downward” continue.
“As the inflation rebound, the ECB will have arguments for complete its withdrawal of stimuli and start rises in those types of interest, It would begin to put pressure on rising Euribor”, ahead of the expert, who says that low rate fees will help to that variable rate mortgages continue to cheaper in the next few months.
On the other hand, the expert indicated that the excess liquidity contributed by central banks globally “does that interbank lending is not necessary, Since access to credit virtually unlimited if requested to the ECB”. “This fact makes loans between financial institutions are reduced and reaches even to pay for lending money, causing the fall of Euribor”, explains.
Fixed rate mortgages are imposed
The unstoppable fall of the Euribor has led to the banks to bet especially since 2016 by the mortgage to type fixed opposite to the type variable. Of this mode, the Association mortgage Spanish (AHE) indicates that the last year 2016 the credit for the acquisition of housing with type of interest fixed represented a greater proportion of the new recruitment, to the copy the 53,3% -by a 46,7% loans to interest variable-.
“If you close a good level of fixed rates for the life of the mortgage you take off your shocks”, pointed out the Financial Director of Bankinter, Gloria Hernandez.
The President of the Association Spanish of the banking (AEB), José María Roldán, understands that “a step towards fixed rate mortgages, that do not are subject to variations, It is something that should be considered for the rebalancing of the market mortgage of face to the future”. “The competition in the sector still being very important and is an effect compensator of any increase of the differential”, It said.
Read more: http://www.elmundo.es/economia/2017/01/31/588f657fe2704eaa5c8b45fb.html