Madrid (EFE).- The twelve-month Euribor, the indicator most used in Spain to calculate mortgage payments, maintains its upward trend and already exceeds 3.9% in daily rate, reaching its highest level since November of 2008.
According to market data consulted by EFE, the Euribor is trading this Wednesday at a daily rate of 3.944%, the highest since November 28, 2008.
With five trading days, the average rate for March stands at 3.85%, much higher than the 3.534% in February, or 3.337% in January.
In February 2022, the Euribor was trading negative, at -0.335%, with which the rise experienced last month has made variable mortgages more expensive by up to 600 euros per month.
Experts recall that the policy of the European Central Bank (ECB) will continue to boost the Euribor, since the body is raising interest rates to combat inflation.
Between July 2022 and February 2023, interest rates have gone from 0% to 3% in the euro area, and it is expected that this March, the ECB will raise them again by another fifty basis points.
In this context, some experts see the Euribor at a rate of 4% or above it, at the end of this month.
In recent days, the president of the ECB, Christine Lagarde, has insisted that the body will take the necessary measures to bring inflation down to the 2% target, and will raise interest rates again by another 50 basis points in your meeting this month.
Likewise, the president of the US Federal Reserve (Fed), Jerome Powell, assured yesterday that the latest economic data has been better than expected and suggested that restoring price stability will require maintaining a “restrictive” monetary policy. for “some time”, something that was not well received by the market.
All this has caused an increase in the profitability of sovereign debt. In the case of Spain, the ten-year bond yield today reaches a yield of 3.73%.
In one month, the profitability of the Spanish bond has gone from 3.35% to that 3.75%.