Mortgage base rate rises

30th September 2004, Comments 0 comments

30 September 2004, MADRID – Mortgage interest base rates across Europe have risen for the first time in the past two months, analysts said Thursday.

30 September 2004

MADRID – Mortgage interest base rates across Europe have risen for the first time in the past two months, analysts said Thursday.

Euribor, which fixes interest base rates across Europe, rose to 2.377 percent in September.

This will mean a monthly rise in mortgages across Spain of EUR 7-18.

The mortage rate rise, fixed by lenders and which will be corroborated by the Bank of Spain, went up by just over 0.07 percent, compared with 2.302 percent in August. 

The interest rate this September compares with 2.25 percent this time last year.

Analysts said it did not appear clear how interest base rates would change over the next few months.

The most important factors will be rising petrol prices and the uncertainty of the world economy.

These two factors will translate to the European Central Bank mortgage base rates.

But analysts did say they do not expect dramatic changes in mortgages and there could even be new falls in the Euribor, though these will probably be very small.

[Copyright EFE with Expatica]

Subject: Spanish news

 

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