The Euribor, index which are referenced most mortgages in Spain, It will mark a new low at the end of March and will end next month to the -0,11%, so it will continue reducing the mortgages.
Specifically, mortgages to 20 years with a capital of 120.000 euros and a differential euribor 1% to touch review will see its share reduced in 5,23 euros per month or, What is the same, 62,79 euros per year.
The Euribor closed last February in the historical minimum of the -0,106%, Since the -0,095% of the previous month, According to the Bank of Spain confirmed. Now the index delves into negative terrain and will be expected in the -0,11% at the end of March.
However, XTB Carlos Fernández analyst told Europa Press that the Euribor soil appears to be close, Although it requires that, for the moment, the increase in inflation expectations “He has failed to halt the fall of the benchmark for most mortgage”.
“The expansionary monetary policies that served to flood of liquidity financial markets have come to an end”, pointed out the expert, who says that a few days ago took out the last auction TLTRO by which the ECB offered virtually unlimited liquidity to banks, reason why interbank lending –It fixed the Euribor–, they were minimum.
Fernandez ahead of that in the coming months the banks will no longer have this way of financing, “that should increase the volume of loans between financial institutions”. This increase in demand, points, You can raise interest in turn, causing an increase in the Euribor.
“With this general situation, Although the rise in ECB interest rates, seems ruled out for 2017, We found a first argument to the soil of the Euribor is close”, It has clarified.
The expert has also indicated that, for the moment, It is early to think that the index will start to rebound and it has pointed out that, When do you, will be a gradual increase. “What seems clear is that the golden days of the mortgage are close to an end”, He stressed.
Read more: http://www.eleconomista.es/euribor/noticias/8260484/03/17/El-Euribor-marca-un-nuevo-minimo-historico-y-cerrara-marzo-proximo-al-011.HTML