Mortgage holders in Spain are set to face an increase in their fees as the 12-month Euribor, the most commonly used indicator to calculate variable mortgages, is expected to rise again in March. The average rate for the 12-month Euribor currently stands at 3.72%, a slight increase from February’s rate of 3.671%. While mortgage holders who review their loans annually will see an increase in their fees, those who review them semi-annually will experience some relief.
According to analysts, the Euribor is likely to remain stable or trend slightly downward until June when the European Central Bank is expected to reduce interest rates. However, uncertainties such as economic slowdowns, inflation and geopolitical conflicts could impact its trajectory in the long run. Despite these challenges, experts predict that the Euribor will fluctuate around 3.7% in the short term with the possibility of significant drops in the longer term.
Mortgage holders should stay informed about market trends and central bank decisions to make informed decisions regarding their loans. By doing so, they can minimize any potential negative impacts on their finances and ensure that they are making sound financial decisions.