The impact of a more-than-expected expressive rise in key rates of the European Central Bank (ECB) has not been fully discounted on the interbank market, where Euribor rates are set daily. Thus, despite the hikes in recent days, the rates that are used as a basis for housing loans have risen again, reaching eight years and a maximum of 10 years. The rate of ascent remains high.
The three-month Euribor index, the last to enter positive territory, rose on July 14, this Friday to 0.2%, an increase of 0.055 percentage points and the new maximum since September 2014.
period of six months, The most used rate in Portugal for housing loansby another 0.074 percentage point to 0.706%, a new high since August 2012.
Within 12 months, it also followed the same trend, settling at 1.2%, an increase of 0.058 percentage points and a new high since August 2012.
After about seven years of accumulating negative value, within a few months, Euribor prices reach values that eventually end up having a major impact on home loans, both new and already contracted, and subject to periodic reviews. The benefit of this movement, on a small scale, is only Who has savings?.
The European Central Bank was keen to stem the escalation of inflation, which led to it, in the words of President Christine Lagarde, “to take a broader first step in the process of normalizing interest rates”, opens the door to new consistent actions to stop it. The next decision to raise interest rates will be made by the European Central Bank in September.
Fears of cutting Russian gas supplies to several European countries and The political crisis in Italywhich returns to the polls in September, after the resignation of Mario Draghi, are factors that influence the setting of rates on the interbank market, based on the loan operations that a wide range of banks want to carry out among themselves.
“Wannabe internet buff. Future teen idol. Hardcore zombie guru. Gamer. Avid creator. Entrepreneur. Bacon ninja.”