A customer with a loan worth 150,000 euros, with a term of 30 years, indexed to the 12-month Euribor and with a ‘spread’ (bank profit margin) of 1%, will pay 807.25 euros from December, compared to the 701.33 euros you paid last year.
The increase of 105.92 is nevertheless lower than that observed for contracts indexed to the 12-month Euribor (with the characteristics taken into account in this simulation) that were extended at the beginning of November and whose repayment increased by 135.55 euros was increased.
With a loan under the same conditions (amount and repayment period), but indexed to the six-month Euribor, the customer pays 34.87 euros more than he has paid since June.
For loans indexed to the three-month Euribor, housing costs – under the above conditions – will increase to 802.67 euros in December, an increase of 17.48 euros per month compared to the last revision in September.
Also in these two periods (six and three months) the increase in terms is lower than that of the contracts extended in November, due to the slowdown in the increase in the Euribor.
These values were calculated taking into account the Euribor averages in November, which were 4.065% for six months, 3.972% for three months and 4.022% for 12 months.
The evolution of the Euribor interest rates is closely related to the increases or decreases in the policy interest rates of the European Central Bank (ECB).
After being in negative territory for several years, the Euribor started to rise significantly since February 4, after the ECB admitted that it could raise key interest rates due to the rise in inflation in the eurozone.
Since July 2022, the ECB has raised its policy rate ten times in a row, after pausing this cycle of increases for the first time at its October 26 meeting and leaving rates unchanged.
For example, the deposit rate remains at 4%, the highest level since the introduction of the single currency in 1999, while the main refinancing rate remains at 4.5% and the interest rate applicable to the permanent liquidity lending facility remains at 4.75% .
Source: DN
