The Euribor reaches 4% in its daily rate after the ECB rate hike

MADRID, 16 Jun. (EUROPA PRESS) -

The Euribor has reached 4% in its daily rate after yesterday the European Central Bank (ECB) announced a rate hike of 25 basis points, which raised the reference rates to 4%.

According to the data consulted by Europa Press, the rate has been located today at 4.020%, which represents its highest level since November 25, 2008, when it was placed at 4.051%.

In this way, the average monthly rate is already 3.928%, 0.066 percentage points more than in May, when it closed at 3.862%.

The iAhorro mortgage director, Simone Colombelli, believes that after yesterday's rise, the 12-month Euribor could close its monthly rate at 4%, something that has not happened since November 2008, when it stood at 4.350%. .

Colombelli expects that at the next meeting, the ECB will raise rates another 25 basis points again, although stabilization could take place later. "We will remain at 4.25% for a while to see if inflation is controlled in the short or medium term. If that happens, a drop could begin to be considered," he says.

In addition, he points out that the feeling of the banks is that 2023 is a year of "transition" and that in 2024 the mortgage market "will improve".