He euriborthe index to which the majority of mortgages in Spain are referenced, has given joy to many who in recent months have not stopped seeing how the installments have risen. The index closes November at 2.506%, the lowest figure in more than two years, driven by the fall in interest rates.
This decrease will provide relief to those with mortgages whose review is due soon, but it may have other implications.
In this sense, Gonzalo Bernardos, economist, professor and regular on radio and television talk shows, has analyzed these other effects that the drop in the Euribor could have in the future. Bernardos has also given advice to those who want to buy a home.
According to the economist, “the perspective is that in January the ECB’s main rate will be 3.5%”, after the next meetings of the organization compared to the current 4.25%.
The expert’s perspective is that the Euribor will continue to fall and he has assured that, currently, this panorama “It is the best of all worlds for those who want to buy a home”. “The Spanish economy is doing very well, on the other hand the European economy is doing really badly and has begun to slow down significantly,” he analyzed.
Gonzalo Bernardos’ advice to those who want to buy a house
In fact, the professor has also alluded in his speech to a possible rate cut “to activate the economy.”
«To whom take out a mortgage I recommend fixed rates that will be close to 2% or mixed the first five years around 1.5 and the rest Euribor +0.5. It is a great moment for those who want to buy a home,” he assured.
However, Gonzalo Bernardos has also addressed those who plan to wait to see how the market evolves: «The market is going to get red hot, What you will save from paying interest will be less than what you would have to pay more for a home.
That is why, for Bernardos, the best option for those who want to buy a home is to start looking at options and “try to buy as soon as possible” to avoid being “caught by the bull.”
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