Biggest mortgage interest rates hike since 2002

29th September 2006, Comments 0 comments

29 September 2006, MADRID — Euribor, the indicator used to fix mortgage interest rates, rose for the 12th-month running on Friday to the highest figure for four years.

29 September 2006

MADRID — Euribor, the indicator used to fix mortgage interest rates, rose for the 12th-month running on Friday to the highest figure for four years.

In September, the rate went up to 3.715 percent – the biggest leap since July 2002.

It rose from 3.615 percent in August.

Over the past year, it has gone up 1.496 percent.

In real terms this means for the average mortgage of EUR 120,000 taken out over 20 years, with a mortgage interest rate of Euribor plus 0.7 percent, payments will go up EUR 89.7 each month. 

Over the year, this means the average householder is going to have to pay EUR 1,076 more.

[Copyright EFE with Expatica]

Subject: Spanish news


 

29 September 2006

MADRID — Euribor, the indicator used to fix mortgage interest rates, rose for the 12th-month running to the highest figure for four years.

In September, the rate went up to 3.715 percent – the biggest leap since July 2002.

It rose from 3.615 percent in August.

Over the past year, it has gone up 1.496 percent.

In real terms this means for the average mortgage of EUR 120,000 taken out over 20 years, with a mortgage interest rate of Euribor plus 0.7 percent, payments will go up EUR 89.7 each month. 

Over the year, this means the average householder is going to have to pay EUR 1,076 more.

[Copyright EFE with Expatica]

Subject: Spanish news


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