The average interest rate on mortgage loans is at an eleven-year high

The average mortgage interest rate at maximums. The average rate at which banks grante mortgage loans during the month of March was . This implies the highest level that was recorde since February , according to data from. The Bank of Spain that was collecte by the Spanish Mortgage Association (AHE). In this way, the average interest rate on mortgages of more than three years. For the purchase of free housing that were grante by entities in Spain increase for the fourteenth consecutive month. Reaching , compare to the that was register in February. A year ago, the average rate was . The increase takes place in a context in which the Euribor, the index to which most mortgage loans in. Spain are reference, close the month of March at , above the registere in February. It is important to highlight that so far in the month of April, this -month index registers a monthly rate of .

What is the Spanish Mortgage Association (AHE)?

When we talk about the Spanish Mortgage Association (AHE) we are referring. To an organization made up of banks, savings banks, credit cooperatives and financial credit establishments that have a greater presence in the mortgage market. This association UK Phone Number List represents the interests of its members in all points relate to mortgage activity, which is why it has close contact with the different ministerial departments responsible for the development of the regulations that affect this market (Ministry of Economy, Ministry of Justice and Ministry of Housing mainly) as well as with the Bank of Spain. On the other hand, other institutions and organizations, which are not credit entities, directly link to the various activities of the mortgage market, are also part of the Association. The AHE also focuses on all issues relat to transparency and consumer protection.

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What is expected from the rate hike?

The chief economist of the European Central Bank (ECB), Philip Lane, has been in favor of continuing to increase interest rates . Of course, as long as the reference scenario managed by the institution is maintained , despite the fact that New Zealand Phone Number List he has highlight the importance of the next survey on bank loans and business financing conditions to evaluate what the impact of the financial turbulence will be. Lane indicates, in a speech given in Dublin, that, if the reference scenario underlying the macroeconomic. Projections prepar by the ECB experts in March persists, the ideal would be to raise rates even further. The economist argued that the substantial tightening of the eurozone’s monetary. Policy is design to ensure that inflation returns to the target in a timely manner, both by ensuring that long-term inflation expectations remain firmly anchored and reducing price and cost pressures through lower demand.

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