Housing credit: If Euribor reaches 2%, families will pay “another 200 euros every month”

The provision of mortgage loans can be increased by more than 200 euros from next year. According to the Portuguese Consumer Protection Association (DECO), this is a result of higher interest rates.

In negative territory since November 2015, the Euribor began to rise in six months At the beginning of the year, it has now reached positive values ​​for the first time in seven years.

On the SIC antenna, the coil . is Market Analyst, Catarina Castrospeaks of “the beginning of a new paradigm (…) which began to be tested at the beginning of the year and which has only worsened with this geopolitical conflict”, the war in Ukraine.

The The six-month rate is the most used in Portugal for housing loans and the trend is continuing to rise. It is now approaching 0.01%, and according to forecasts, it may reach 2% in the summer of next year.

“In the case of a loan of 200 thousand euros, if the rate of Euribor reaches 1%, then we are talking about an additional 110 euros per month. If it reaches 2%, then we are talking about an additional 200 euros each month. To give you an idea, the premium of 630 euros goes up to 840 euros. It is a very important value‘,” warns Nuno Rico, an economist at DECO.

The The question does not arise for those with a fixed rate, but more than 93% of mortgages in Portugal are at a variable rate..

And if we New loans, the increase is immediateIn other cases, it depends. But no one survives. “Every time the index is revised, in this case depending on maturity, every three, six or 12 out of 12, families will begin to be punished.DECO economist predicts.

Euribor is based on the reference rate of the European Central Bank (ECB), which has already announced that it will have to raise interest rates to control inflation. What you don’t know yet is when you will do it and how often.