Economists anticipate that the climb will be maintained and arrived in the coming months to those who have indexed credits for 6 months and a year.
The Euribor rates rose again for the second consecutive month in September, reflecting the widespread conviction between analysts that the European Central Bank (ECB) should no longer lower the directors. The trend begins to have a direct impact on Portuguese families with housing credit indexed to Euribor for three monthsthat will see your monthly installments increase from October, something that has not happened about two years ago.
The increase will be light for now. In a loan of 200 thousand euros, 30 years, with a 1%spread, the climb will be prowled Only four euros monthly. However, experts warn that Euribor’s upward trajectory may soon extend indexed contracts at six and 12 months, which represent the majority of contracts in Portugal.
Despite the recent climb, the October revision will still bring downhill to those who have Euribor contracts at six or 12 months, as the comparison used in the calculation is made with the average of March and September, or September with the same month of 2023, respectively. Thus, a contract indexed at six months will have a descent of about 29 euros, while in the case of Euribor at 12 months the installment Download close to 80 euros.
Currently, the ECB’s deposit rate is fixed by 2%, a level that those responsible for Frankfurt consider sufficient to maintain inflation under control without locking economic growth. Inflation in the eurozone has kept stable at 2% in the last three months and, in September, the institution has reviewed the forecast of economic growth to 1.2%, says.
In a poll carried out by Reuters, almost 60% of economists anticipate that the rate Keep 2% by the end of the yearwhile a slight majority considers it likely to remain at this level, or up to 2026.
In Portugal, according to July data, most of the variable -rate housing credit contracts are indexed to Eiber to six months (38%), followed by Euribor at 12 months (32%) and Euribor for three months (26%).
For now, the impact of the climb will be moderate, but the evolution of Euribor in the coming months may dictate a reversal of descent trend that was being registered in the installments since 2022.
