Finally HE euribor remained below 4.2 percent. It closed with a particular closure. 4.160%It is only 0.011 points higher than in September, when it reached 4.149%.
Will it remain below 4.2 percent in the coming months? “Euribor resists exceeding the 4.2% barrier more than expected. It has now been at 4% for five months and total growth does not exceed two-tenths. This is a good news Because if we look back at just a few months, we see that this two-tenths was easily exceeded from one month to the next, and now they are not able to do this, which shows that the situation has stabilized and will reach its peak if the European Central Bank peaks. it could be close if he allows it,” says Simone Colombelli, Mortgage Director at mortgage comparator iAhorro.
In fact, on October 26, the group led by Christine Lagarde crippled the rate increase, leaving it at 4.5 percent. However, it should also be taken into account that the ECB will meet again on December 14. “We will have to be aware if it raises interest rates again by another 0.25 percentage point or waits until 2024 We will continue to increase because it is clear that there will be more,” Colombelli explains.
So why are further interest rate increases expected in 2024? What the ECB aims for with these measures to reduce inflation below 2% in eurozone countries. Although the European CPI figure currently stands at 4.3%, some countries in the euro area (Greece, Norway and Belgium, among others) are already at optimal levels. However, other places such as Germany, Croatia and Hungary are far from this figure.
In the case of Spain, preliminary CPI data for October is at 3.5% (according to the National Institute of Statistics), the same level as September. The reason for this is the decrease in fuel prices and the fact that the prices of food and energy drinks have not increased as intensely as in previous months.
We must not forget an important point: We are in the last quarter of the year. We are looking at the end of the year Banks want to close with the best possible figureBut they don’t want to do this with any type of profile: they are looking for specific people who can provide them with solvency and security.
“We’re seeing bids become more and more segmented, we’re getting strong bids, but only certain profilesfor more ‘premium’ customers with whom the bank does not do business no risk of non-paymentat least at first,” Colombelli says.
So what is the reason for this situation? “In times of crisis, banks are more stringent and selective in protecting themselves against possible non-payments,” adds iAhorro’s spokesperson, citing “in these cases too” as one of the main reasons for this. price living space tends downward. It is true that prices are high at the moment, but they will soon begin to fall, and the first guarantee the bank has in case the mortgagee does not pay is the mortgaged house: if it has value. “If it falls, it is possible that the collateral will not cover the customer’s debt to the institution.”
Therefore “there are customers who receive good conditions in some banks and not in others; Every bank has preferences for one type of customer or another and in such times it becomes increasingly important to compare offers from different banking institutions to find the best offer,” concludes Simone Colombelli, Mortgage Director at mortgage comparer iAhorro.