Madrid (EFE).- The 12-month Euribor, the most used indicator in Spain to calculate mortgages, reached a daily rate of 2.5% on Friday, its highest level since January 2009, in a week that was marked by the avalanche of interest rate hikes by the central banks.

According to Bloomberg data consulted by Efe, the Euribor has risen sharply this week, since last Friday it was trading at 2.263%, and today it reached 2.5%.

Thus, and with several sessions until the end of the month, the provisional average rate for September reached 2.1%, the highest since 2011.

Residential buildings in Bilbao.
Residential buildings in Bilbao. EFE/Luis Weave/File

The Euribor rises sharply at the end of a week marked by central banks. On Wednesday, the US Federal Reserve (Fed) announced another 75 basis point hike in interest rates, confirming that they will remain high for a long time.

Similarly, other banks like Switzerland or England have also followed the Fed’s lead and raised the price of silver.

The further rise in Euribor will result in an increase in the monthly mortgage payment, which could increase by around 180 euros per month or more than 2,100 euros per year.

And it is that a year ago, in September 2021, the Euribor closed in negative, at -0.492%.

By admin

Leave a Reply

Your email address will not be published.