Portuguese who have variable-rate mortgages, especially those who bought a house in recent years, must reach the end of the year with increases in fees that should approach 100 euros per month – increases of around 25% in relation to the average installments paid for these new contracts. This is the foreseeable impact of the rise in interest rates, widely pointed out by the ECB, on mortgage loans, but could be even worse if the rise in interest rates in the markets continues to be surprising due to its speed.
So far, reality has triumphed over fiction. If in mid-February the Observer warned, based on market futures indicators, that the 12-month Euribor could rise to a positive “floor” in June, when June arrives not only this 12-month index is well above zero (0.361%) but, in addition, the six-month Euribor is very close to passing, also, to a value above zero.
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Source: Observadora
