According to the Deco/Dinheiro&Direitos simulation, the house payment to the bank in January increases between 5.01 and 58.38 euros on contracts indexed to the Euribor that were revised that month, with the increase being less pronounced since mid-2022.
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 776.06 euros from January, an increase of 58.38 euros compared to the 717.68 euros you paid last year.
The increase in the monthly installment of contracts indexed to 12-month Euribor (and with the characteristics taken into account in this simulation) that are renewed at the beginning of the new year is comparable to the increase of 105.92 euros that is supported by those whose renewal took place last month.
For a loan under the same conditions (amount and repayment period), but indexed to the six-month Euribor, the customer pays 798.55 euros, which is 9.28 euros more than what he has paid since July.
For loans indexed to the three-month Euribor, housing costs – for the above conditions – will increase by 799.28 euros in January, an increase of 5.01 euros per month compared to the last revision in October.
Also in these two periods (six and three months), the increase in terms is lower than that of the contracts extended in December, due to the slowdown in the increase in the Euribor, which made it necessary to return to the middle last year to find increases of less than 10 euros.
These values were calculated taking into account the Euribor averages in December, which were 3.927% for six months, 3.935% for three months and 3.679% 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.
During the last meeting of 2023, on December 14, the ECB decided to leave interest rates unchanged again.
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
