3 keys to requesting a mortgage in 2023

You are thinking about applying for a mortgage in 2023 , but you are overwhelmed by doubts. What is the best type of mortgage for the current situation? Are the European Central Bank’s interest rates going to rise further? When is the best time to apply for a mortgage? Let’s take stock of all these issues in our article, with the 3 keys to requesting a mortgage in 2023 . Find the best mortgage without mistakes Going from bank to bank is a thing of the past. GET INFORMED FOR FREE 1. Pay attention to the Euribor and interest rates The Euribor closed January 2023 with an average of 3.337%, far exceeding the 3.018% in December 2022. If we look at the daily Euribor this month of January.

Apply for a mortgage in 2023: fixed, variable or mixed?

On the one hand, the increases in the Euribor have directly made variable mortgages more expensive . Those people who Spain WhatsApp Number Data recently had their review will see their installments increased between €250 and €500 additional monthly, depending on the amount of their loan. On the other hand, fixed mortgages are rising accordingly and their average APR in most Spanish banks is already close to 5%. With this situation, mixed mortgages have come into play , which some banks offer with a fixed first tranche and the rest of the period variable. These appear to be a more tempting option for many profiles who try to escape the rises in the Euribor but plan to take advantage of supposed falls in the Euribor in the long term.

Wait for a mortgage in 2023?

At this point, the biggest doubt clients have is whether to apply for a mortgage in 2023 or wait until 2024 . And that will depend, above all, on each person’s financial profile and personal situation. With the uncertainty around the Euribor, requesting a variable mortgage now has some risk. Still, banks are narrowing the spread on their variable loans. Only if we were certain Ghana WhatsApp Number List that the Euribor would drop in the medium term, would a variable mortgage become a smart option. On the other hand, if your financial situation is more or less stable and you can assume the current interest rates, a fixed mortgage becomes the safest option, before the ECB increases its interest rates for the fifth consecutive time. The best advice to consider.