The share of housing paid in mortgage loans will rise significantly in July in contracts indexed to the Euribor at three and six months, in view of the latest revisions, according to the simulation of Deco/Dinheiro&Direitos.
A client with a loan amounting to 150 thousand euros, over 30 years, referenced to the six-month Euribor and with a “spread” (bank profit margin) of 1%, will pay 493.70 euros as of this month. which translates into an increase of 47.87 euros compared to the last review in January.
In the case of a loan under the same conditions (amount and repayment term), but indexed to three-month Euribor, the client pays 476.17 euros, 27.06 euros more than what you have paid since April.
Interest to go up. Monthly fee increase can reach 100 euros
These values were calculated taking into account the averages of the Euribor for June, of 0.162% at six months and -0.239% (still in negative territory) at three months.
In loans referenced to the 12-month Euribor, the mortgage payment —for a loan under the above conditions— will be 543.39 euros from July. In this case, the value was calculated taking into account the average Euribor for June, which at 12 months was 0.852%.
Since the end of 2021, credit defaults have ended, which represented an important “pause” for families in the most acute moments of the Covid-19 pandemic crisis.
The Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) admitted that it could raise official interest rates this year due to the increase in inflation in the eurozone and the trend was reinforced with the start of the Russian invasion of Ukraine on February 24.
The Euribor is the main index in Portugal in banking contracts that finance the purchase of a home. The six-month Euribor is the most widely used, followed by the three-month rate.
The Euribor is set by the average of the rates at which a group of 57 banks in the eurozone are willing to lend money to each other in the interbank market.
Source: Observadora
