Euribor Rates to Increase in March, Making Annual Mortgage Reviews Pricier

The 12-month Euribor, a widely used indicator in Spain to calculate variable mortgages, is set to close March with a rise, hovering around 3.72%. This means that mortgage holders who review their loans annually will see an increase in their fees, while those who review semi-annually will experience some relief.

As of March, the average 12-month Euribor rate stands at 3.72%, following a new increase from 3.671% in February. A year ago, the Euribor was at an average of 3.647%, so annual mortgage holders will see a higher fee compared to last year. However, for those who review every six months, there will be some relief.

The rise in the Euribor in March will lead to an increase in fees for mortgage holders who review their loans annually, while those who review semi-annually will see a slight reduction. Analysts predict that the Euribor will likely remain stable or trend slightly downward until June when the European Central Bank is expected to reduce interest rates.

While experts expect a slight decrease in the Euribor in the second half of the year, uncertainties such as economic slowdowns, inflation, and geopolitical conflicts could impact its trajectory. Overall, it is expected that the Euribor will fluctuate around 3.7% in the short term with the possibility of significant drops in the longer term.

In conclusion, mortgage holders should keep informed about market trends and central bank decisions to make informed decisions regarding their loans.

By Sophia Gonzalez

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