For some people who have taken out loans indexed in euros, 30 September is the date when their loan instalments become more expensive because of the adjustment of the three-month Euribor.
Due to the constant growth of Euribor, instalments have been raised and the) interest will be almost twice as high as at the beginning of the year.
Experts point out that loan instalments will be increased by between EUR 5 and EUR 30, depending on various factors, such as the amount of the loan and the amount of debt already repaid.
Loans indexed in euros are usually taken to buy property/real estate. The current Euribor rate will be used to calculate the interest on the loan instalments that people will pay in October, November and December. Afterwards, banks will inform customers about the new monthly instalment amount. Another piece of bad news is that experts predict that Euribor will continue to rise.
Euribor is the interest rate at which a group of European banks lend money to each other. It has been rising since March this year but had a period of stagnation and even went below zero at certain point, in the few months that followed. It continued to go up in the last three months. At the beginning of the year, Euribor was -0.57 while yesterday it was at 1.228 per cent. Therefore, everybody who took out loans indexed in euros with variable interest rates will have to pay higher loan instalments in the next three months.
This post is also available in: Italiano