The Euribor again protagonist getting dearer the mortgage in 700 Euros a year
29.09.2008
The famous person Euribor, the hard guy to which there are granted most of the mortgage loans, has left his calmness aside and recaptures his climb in September. The new increase will get dearer the letter of the mortgage in 58 euros to the month and 704 euros to the year for an average loan for 150.000 euros to 25 years.
For lack of only one day for finanlizar the month, the monthly valuation of the Euribor remains placed in 5,379 %, with what it returns with the previous upward tendency with which I finish in August, on having closed in 5,323 %, opposite to 5,393 % of July.
The Euribor has died this Monday his daily valuation in 5,477 %, after a light rest took last Friday and to recapture his upward tendency in the previous days on having marked four consecutive daily historical maxima in the previous week. His daily record dates back to last Thursday, when it rose up to 5,484 %.
The financial experts indicate that the last movements of the Euribor so much for the high interest rates in the Euro area, at present in 4,25 %, as for the crisis of liquidity, which accentuates the mistrust of the banks to give him money between themselves.
The indicator finds in maximum levels from the failure of till not long ago the fourth investment bank of the United States, Lehman Brothers, and it is foreseeable that does not descend until the financial system recovers his confidence, to what he would contribute the approval of the plan of financial rescue of the Government of Bush, that it will be approved this Monday by the Congress, most likely.
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The euribor marks today a new maximum intradía in 5,45 %
23.09.2008
I joust when we were mentioning that the index Euribor had been supported in calmness last days, today we know the fact with which the Euribor has marked a new maximum intradía in 5,45 %.
With está increase, the principal indicator for the calculation of mortgage loans fixes his medium month's characteristic in 5,35 % for lack of six meetings to finish the present month.
The level reached by the Euribor is very next of the historical maximum registered in July, when the euribor closed in 5,393 % and much over the minimum of last twelve months, 4,287 % marked last January 23.
Of following this tendency, the euribor will rise in September with regard to the previous month, after the rupture in the upward tendency that supposed August (5,323 %, after five consecutive months to the rise). The euribor to twelve months, the index most used by the banks to give money to his clients, has ranged from 1999 between a minimum of 2,014 % and a maximum of 5,393 %.
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The Euribor stays calm
22.09.2008
Seemingly the Euribor has not suffered with the financial hecatomb provoked by the failure of Lehman Brothers. The monthly valuation has been placed in 5,334 %, if it finishes this way in September one would return to the upward tendency that I exsmoke in August, when it ended in 5,323 %, opposite to 5,393 % of July, according to provisional information.
This behavior of the Euribor might be related to the injections of liquidity carried out by the European Central Bank (BCE) to the financial system. On Monday it contributed 30.000 million euros, and yesterday 70.000 million more to the banks of the euroarea. The issuing institute insists that “he watches closely” the conditions of the monetary market of the Euro area.
The Spanish Bank has confirmed recently that the Euribor closed in August in the level of 5,323 %, 0,07 points below the July level. The Euribor changed this way the tendency to the rise of last five months, although it continued in historical levels for third consecutive month.
Still with the descent, the consumers who have checked his mortgage loans with the August reference have seen increased the quotas that every month they pay to the bank, since the Euribor was located in valuations lower in the same month of 2007.
In particular, for an average mortgage for 141.939 euros, with a differential of 0,50 % and a pay-off period of approximately 26 years, the users have happened to pay 56,26 more euros to the month (675 more euros a year).
Caixa Manlleu will offer to postpone the payment of the mortgages for the economic crisis
16.09.2008
I hope other banking institutions take note, Caixa Manlleu is going to allow to the holders his mortgage loans, those that have employed the Habitual Mortgage and the Young Mortgage, the possibility of requesting the temporary modification in the form of payment of the quotas.
The principal motive of this measurement is to facilitate a little the life before the effects of the economic crisis. The banking institution there is manisfestado that the crisis is making difficult to pay his mortgage to some families.
To gain access to the postponement of the payment of the mortgages for some months, the consumer will have to justify that it is in a situation: "unforeseeable and foreign to his will that has supposed a substantial reduction of his income”.
It would be necessary to see which there are these situations to value if really this measurement that supposedly is going to help the holders of mortgages of Caixa Manlleu
The euribor gives a light breather
11.09.2008
Fortunately the index Euríbor has "relaxed" a little and only one sudden movement of the markets might extract it of his adormilamiento. The Euribor started in September on 5,3 % and it has not changed scarcely in what goes of month. Neither it has had movement great in August and in a great part of July.
According to experts in the matter, the Euríbor «has entered a stabilization stage» which does not mean that «there could still be unpleasant surprises and he still suffers increases». Or everything opposite: "It might to go down moderately», it points immediately.
And on what does it depend that the Euríbor, this name so hated lately by so many citizens, keeps on giving griefs or gives a truce? The first thing of everything is that two months and a half of light ascents and descents they are still very few so that it is evident in the mortgages which review is nearby. In general, the banks update the interest rate of the loans every semester or every year, by what the quotas that are still checked now will be indexed to months in which the index was much underneath. For example, for a mortgage to 25 years and with a capital for 120.000 euros, the increase of the letter would be 53 euros if out of half-yearly character (with regard to March) and 43 in case of being annual (as regards September, 2008). The fault of which the review of six months is harder is in the sudden descent that tackled the indicator at the beginning of year and that provokes that now the step is evident more.
The insurances for unemployment associated with mortgages double
10.09.2008
More to cost to prepare that to recover, before the current situation of economic instability provoked by the crisis many consumers have decided in favor of the hiring of the insurance policies for unemployment linked for the mortgage loans.
This type of insurances has doubled in the last year, on having happened from 20 % registered to June, 2007 to 40 % in the first semester of 2008, as informs the Agency Negotiator of Bank Products.
This insurance allows to face to the payment of the mortgage loan in case of losing the job for a continuous period of twelve months or discontinuously of 24 months, with a variable cost that is included in the financing and that usually talks each other of the only renewable premium at the age of five.
The financial broker dedicated to the mortgage intermediation also emphasizes that the mortgages requests to fixed type also have increased 43 % during the first semester of the year. This form, according to his estimation, it is possible to sign to 5,49 per cent in some entities.
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The families destine almost half of his revenue to pay mortgage
08.09.2008
According to information facilitated by the Bank of Spain spread by the Spanish mortgage association, the Spanish families they have destined in the second trimester of the year 46,1 % of his available annual gross revenue to pay his housing, opposite to 46,3 % of the three previous months.
The necessary annual effort for every family to finance the acquisition of a housing they show a tendency lightly to the casualty, after reaching in December, 2007 the percentages most raised from ends of 1995 with 46,5 %.
The new mortgages are more expensive, minor in quantity and to be sick in less time
05.09.2008
The banking institutions are offering at present loans hipoetcarios insignificant, in a shorter term and to an interest rate higher that they give like turned out an average monthly quota for 823,24 euros in the set of the country.
According to the statistical study of the registrars of the property relative to the operations of buying and selling of housings during the second trimester, the average mortgage has descended to 143.571 euros (almost 8.000 euros less than one year ago), the term has been shy to 26 years and 11 months (15 months less than one year ago and up to 9 months less that in the first trimester) and the effective interest rate is located in the environment of 5,16 % (it was 4,62 % in the second trimester of 2007).
It is the first time in which there diminish the period of hiring of the mortgages. “This result is related to the hardening of the financial conditions imposed by the financial institutions, as well as, in minor measurement, to the reduction of the attraction towards the lengthening of the period of hiring in a stage of increases of interest rates”, thinks in his report the School of Registrars of the Property.
After the fashion that we had of mortgages of up to 50 years with that the financial institutions were thinking about how to make the buy of a few housings possible with exhorbitant prices, “the hiring period have stopped being the variable with that to resist the deterioration in the accessibility”, they affirm the registrars in his report.
INTEREST RATES
Pronounced reduction of the quantity of the mortgage comes up for buy of housing that the statistics detects registral it is according to the information that the National Institute of Statistics throws until June.
Nevertheless, the average interest rate included in the mortgages registered during the second trimester (5,16 %) remains slightly short opposite to the information of the Spanish Bank, where the price applied in last four months goes from 5,23 % of April to 5,76 % of July.
The mortgage loans grow the half than in 2007
03.09.2008
The real estate market in Spain continues in a clear decrease inside the awaited adjustment indicated by the Shoemaker's Government for months, but whose force desmedidad has caught many people for surprise.
The last facilitated information of the Spanish Bank shows that the money given by the banking institutions for the subscription of mortgages scarcely grew in the first semester the half that one year ago, in particular 9 % opposite to 10,2 % with which I finish in May and 19,7 % that was registering twelve months behind. Moreover, the June increase scarcely came to 0,3 %, below the average of 1,7 % taken into account in the last four exercises.
In absolute terms, according to a report published yesterday by the Spanish Mortgage Association (AHE), the balance managed in this ambience increased in 3.481 million euros during this last month, sum that rose up to 33.460 millions in the result accumulated between January and June, less than the half that 80.679 millions reached in the same period of 2007.
In spite of everything, the entire volume given by banks, boxes and other entities for this type of credits already overcomes the trillion euros, although his increase rhythm will be slower and slower.
