Categories: Business

Good news for adjustable rate mortgage holders: bills will become cheaper in April.

Good news for adjustable rate mortgage holders: bills will become cheaper in April.. Specifically, the aforementioned figure closed at 3.703%, down from 3.757% last year. Pau A. Montserrat, CES member, UIB professor and economist at FuturFinances.com, notes that “the savings are small, but they reverse the trend that we have suffered in recent years, as interest rates fell in April.” 2022 negative.”

Plus, he has more good news for those with adjustable rate mortgages. “Given that last year the values ​​began to exceed 4%, and the current trend is a gradual decline from 3.7% until June or September, the European Central Bank (ECB

) also decides to lower its rates, it is very likely that reviews will follow the same trend until the end of the year: reduction of commission for each review


How much will your mortgage go down?

Montserrat carried out the calculations and The average mortgage in the Balearic Islands will increase from 1,064 euros per month to 1,058 euros. This is an average reduction of 6 euros, i.e. 72 euros per year. In the case of Spain as a whole, the fee will increase from 777 euros to 773 euros; This represents a reduction of €4 per month and €48 per year. “Although the contraction is small, the important thing is that it marks a clear change in the trend already expected last minute

. I insist that mortgages will begin to be reduced from April 2024 and this trend will continue.

The above-mentioned economist argues that “the intensity of the contraction certainly depends on the speed of economic growth.” ECB in reducing rates. Some analysts are betting on the first cut in June, others in September, with some consensus that there will be at least two cuts of 0.25 percentage points each this year. This will mean a reduction in the ECB’s official fixed rate from the current 4.50% to 4.00% at the end of the year. That’s why, “We’re leaving behind the hellish mortgage season of rising rates.

and we are fully entering its spring, warm, but with a drop in temperature.

Source link

Admin

Recent Posts

“The Secret of the Lost City” with Sandra Bullock and Channing Tatum aired in prime time on M6 on March 8.

Commentary on a movie on repeat? A replay of “Le secret de la cité perdue”…

14 mins ago

Thousands of people evacuated to safe places due to massive fire in California

afp_tickers This content was published November 8, 2024 - 00:45 An intense and rapidly spreading…

19 mins ago

Increasing incidence of asthma in children in autumn

Childhood asthma typically worsens in the fall due to the change of season and the…

20 mins ago

Super-rich with record profits after Trump’s victory

New York (EFE) - The world's 10 richest people (the ultra-rich) collectively made a record…

27 mins ago

Amazon is expecting Black Friday: headphones dropped from $90 to $25

This year Black Friday takes place on Friday, November 29th.But even though the discount party…

29 mins ago

Celje: resumen, goles y ruedas de prensa del partido de la Conference League 2024-2025

El Real Betis afronta un partido crucial este jueves, en el cual tratará de buscar…

31 mins ago