May 12 month Euribor
Mays 12 month Euribor published by Bank of Spain for reviews and completions rose to 0.13%. For a number of years now the Euribor has been in negative territory.
The move suggests the ECB base rate will increase in next few weeks.
Interest rates in Spain
Either way cost of funds for Spanish Banks will rise. The knock on affect being rate increases.
Currently interest rates for new Spanish Mortgages remains around 2.65% for new loans. Fixed rates make up the majority of all new loan contracts.
Level of capital lent for homes increases
In the month numbers of loans in Spain for February rose marginally against the previous month and are significantly up on same month of last year and annually to date.
In an indication prices of property have risen capital lent has a higher percentage increase than numbers in most regions.
Read the full article:-Euribor increases for Mortgages in Spain
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