The mortgage fee payable to the bank will increase in July on contracts indexed to Euribor rates, which were renegotiated this month, increasing by 262 euros over a 12-month period, according to Deco/Dinheiro&Direitos simulations.
A customer with a 30-year loan of €150,000, indexed to six-month Euribor and with a “spread” (bank profit margin) of 1%, will pay €789.27 as of July, representing an increase of €110.67 compared to before the last revision in January.
In the case of a loan with the same conditions (amount and maturity), but indexed to a three-month Euribor, the client now pays 763.24 euros, which is 54.79 euros more than he has paid since April.
These values were calculated taking into account the average Euribor values in June, amounting to 3.825% for six months and 3.536% for three months.
With regard to 12-month Euribor-indexed loans, the mortgage payment – for the above conditions – increases in July to 805.87 euros, reflecting an increase of 262.48 euros per month.
In this case, this value was calculated taking into account the average Euribor in June, which for 12 months amounted to 4.007%.
Changes in Euribor interest rates are closely linked to increases or decreases in ECB interest rates.
After several years of negative territory, the Euribor began to rise more significantly since February 4, after the European Central Bank (ECB) admitted that it could raise key interest rates due to rising inflation in the eurozone.
Since then, the ECB has already raised key rates several times, which means an increase in the amount that customers pay for loans, primarily for housing loans. In July, the further increase in ECB interest rates is expected.
Author: Portuguese
Source: CM Jornal
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