Mortgage, the installment doubled in two years: how to free yourself from the variable with rates still on the rise
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The increase in the cost of money: rising rates
The increase in the cost of money by another 50 cents by the ECB certainly complicates life a lot for those with a variable rate mortgage, but it also risks having significant repercussions on the real estate market. The Euribor, the parameter used to index the cost of variable mortgages, reached 2.92% on Monday 6 March (quarterly rate calculated over 365 days) thus aligning itself with the current value of the ECB rate, now at 3%. Everything suggests that between the end of March, the day after the increase that will be formalized in Frankfurt, in mid-April it will in turn increase by 50 cents, because since July 2022, i.e. since the ECB rate dropped from zero, the Euribor he replicated the trend. A 50 cent increase weighs roughly 40 euros per month for every 100,000 euros of borrowed capital.
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– ECB rates on the rise, as mortgage payments increase: 4 examples to understand the emergency
08 Mar 2023
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