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The European Central Bank (ECB) announced on Thursday the biggest ever increase in key interest rates (75 basis points). With families having to deal with the rising cost of food and energy, another squeeze is anticipated for those who have housing credit, as the rise in interest rates affects Euribor, which directly affects the mortgage payment. Analysts consulted by Dinheiro Vivo predict that the 6-month Euribor rate (the most used in home purchase loans) will reach 2% by the end of the year. If this happens, in some cases the mortgage payment can increase by more than 150 euros.
According to Filipe Garcia, economist and president of the IMF, the market “discounts a Euribor [at six months] close to 2.25%” and it is possible “that it will reach close to 2.5% in eight or nine months, and remain unchanged.” at those levels”.
Read more in Dinheiro Vivo
