Mortgage Fees to Increase Slightly: What You Need to Know About the Latest Changes in Eurbor

In March, the 12-month eurbor, a commonly used indicator in Spain to calculate variable mortgages, is expected to close with a slight increase of around 3.72%. This means that those who review their mortgage annually will see a small increase in their fee, while those who review semi-annually will experience some relief. The eurbor has been on the rise lately, standing at an average rate of 3.72% in March compared to 3.671% in February and 3.647% a year ago.

For mortgage holders who review their loans annually, this means their fees will become more expensive. However, for those who review their payments semi-annually, there will be some relief. The eurbor is at its highest level since November, indicating some stability and potential for a slight downward trend in the coming months. Analysts attribute the recent increases in the eurbor to the tough stance of the European Central Bank and uncertainties in the geopolitical field.

Despite initial expectations of a significant drop in the eurbor due to potential rate cuts by central banks, the indicator has remained relatively stable. Experts predict that the eurbor may continue to fluctuate around 3.7% in the short term, with small rises and falls. In the longer term, there may be a significant decrease starting from June, potentially ending up in the range of 3% to 3.5% by the end of 2024