The 12-month Euribor, the most used indicator for the calculation of mortgages in January has closed upwards, with a rate of -0.116%, compared to -0.129% at the end of 2018, with which these loans will become more expensive of 39 euros per year. Taking the last 12 months as a reference, the index registered an increase of 0.073 points.
Thus, the share of an average mortgage of 100,000 euros, to 25 years, and with a differential of one point, will reach 371.55 euros, compared to 368.38 euros a year earlier. And is that in January 2018, Euribor closed at -0.189%.
Despite the fact that the indicator registered 35 negative consecutive months in January – it stood for the first time below zero in February 2016 – the Euribor has been rising since last April.
The Euribor is calculated using the data of the main entities in the euro area and consists of the average cash interest rate for one-year euro deposit operations.
The data corresponding to the month of January also shows an increase, to -0.116%, of the Mibor, the interbank rate at one year that served as an official reference for the mortgage market for operations carried out prior to January 1, 2000.
XTB analyst Rodrigo García has explained to Europa Press that the change in trend experienced by the indicator is positive for banks and negative for mortgaged, both for those who will see how their mortgages are revised in this period, and for those who want to imminently hire a product referenced to the Euribor.
In any case, he stressed that the most important thing is not the rise itself, which in percentage terms remains entirely residual, but the fact that in this new year the upward trend continues.
Among the reasons that have driven this behavior, the analyst has pointed to the expectations that take place in the market. "The ECB's expansive policies are about to conclude and the market expects, sooner rather than later, progress towards monetary normalization," he said.