Madrid (EFE) .
The average monthly value of the Euribor, the one used to review mortgages, ended the month at that 3.757%, higher than the 3.647% in March, which represents a rise of 110 basis points.
However, the increase is less pronounced than the one registered the previous month, when the increase was 113 basis points.
In statements to EFE, the director of investments at ATLCapital, Ignacio Cantos, explained that during April, the Euribor has risen consistently after the volatility experienced in March after the banking crisis.
“A month on the rise”, in which investors have discounted that the European Central Bank (ECB) will once again raise interest rates, given persistent inflation, especially underlying inflation.
Possible rise in the price of money of 50 basis points
The fact that the market discounts that rates will remain high for longer has caused a new rise in the indicator, according to Cantos, who is considering a rise in the price of money of 50 basis points at the next ECB meeting on May 4.
In the case of the US Federal Reserve (Fed), the expert expects a rise of 0.25%, also next week.
In this context, the Euribor returns to the rate of increases that were halted in March, after the banking crisis suffered in the US and Europe.
A crisis that caused a sharp drop in the Euribor in the daily rate, which reached a low of 3.22% for the year.
However, in April, the Euribor increased again, and even on the 25th, it reached 3.900% in the daily rate.
Thus, the average rate for the month reaches that 3.757%, much higher than the 0.013% that it marked in April 2022.
Just that month, the indicator marked its first positive daily rate after six years below zero.
In this way, the variable mortgages that have to be reviewed with the data of this April 2023 will increase again.
As an example, for a mortgage of an average amount of 150,000 euros with a term of 25 years and a Euribor plus 1% interest, the fee amounts to 855.7 euros per month.
Compared to April 2022, this means an increase of 289 euros per month and 3,468 euros per year.
In the case of a mortgage of 300,000 euros, with the same conditions, the increase will be about 579 euros per month.