The Euribor reaches his second annual maximum
26.03.2008
After several months with tendency to the fall, the Euribor has broken his tendency, what it affects negatively to the employed mortgages one year ago with annual review.
The Euribor has increased due to small existing calmness on the financial markets for the crisis in the United States. Of continuing with this tendency, it might close in March with 4,553 %, a level that was not reaching from July of last year
According to the information offered by the Spanish Bank, the indicator closed in January with 4,49 % and in February it fell down up to 4,34 %, the lowest level from April, 2007.
This new increase affects negatively to the employed mortgages one year ago with annual review, but it would keep practically equal those who are checked every half year. Also, this increase coincides with the increase of the valuation of individuals' slowness and companies with the financial institutions.
As has warned the Spanish Mortgage Association (AHE), this mortgage slowness will keep on increasing every month, in a soft way but d
road surface although the interest rates are supported in similar average values or lightly lower than those of last year.
The AHE thinks that the reform of the mortgage market and his next normative development will help to manage in a more efficient way the insolvency situations, and adds that the levels of dudosidad of Spain do not exceed those of most of the OECD countries, although the upturn of the Euribor can anticipate a growth of the slowness during 2008, which might be lightly superior to that of average of Union Monetary Spanish.
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