The bankruptcy of Silicon Valley Bank in the US has caused an immediate effect on the Euribor , whose daily rate has plummeted from. The Euribor drops again to 3.359% as of March 16. Its volatility highlights the uncertainty about the interest rates of the European Central Bank (ECB), which meets on March 16 at noon. It is rumored that he will not raise eurozone interest rates . What will happen now with variable mortgages. Find the best mortgage without mistakes Going from bank to bank is a thing of the past. Historic fall and rise in a matter of days The reference index for variable mortgages in Europe, the Euribor. And it has gone from touching 4% in its daily rate to falling to 3,509% on March 14, 2023. But on the 15th it rises slightly again: it closes with a daily rate of 3.662%.
What happened to Silicon Valley Bank?
The Silicon Valley bank in Santa Clara, California, failed late last week, in what has been considered the largest . The event has stimulated financial news around the world and Europe is waiting for possible splashes. The IBEX35 has suffered it first-hand, as the main banks have fallen in the stock market . The most, the Banc Spain Phone Number Data Sabadell; although Bankinter, Santander, Unicaja and CaixaBank have also lost. Recommended reading: Euribor in 2024: what is the forecast? US and Europe rethink interest rate hikes The ECB will hold its next meeting on Thursday, March 16 to make decisions on eurozone interest rates. Its president, Christine Lagarde, had advanced that they will most certainly raise interest rates , at least half a point more, until they reach 3.5%. But the panic after the bankruptcy of Silicon.
What will happen to my mortgage with the drop in the Euribor?
It is still early for these changes to have a positive impact on the installments of your mortgage referenced by the Euribor. If these Denmark Phone Number List events finally stop the upward trend of the index, it would certainly be a relief for those holders who have to update a variable mortgage soon. In case the rise in the Euribor has already negatively affected you , do not suffer: it is possible to improve your mortgage while we wait for the markets to stabilize. At Housfy Mortgages , we negotiate with several entities to present you with options.
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