On Wednesday, the one-year Euribor rose to its peak this year at 3.695 percent.
Finland the most popular mortgage reference rate, the 12-month Euribor rose to its highest level this year on Wednesday. The interest rate was quoted at 3.695 percent.
At the beginning of February, the interest rate was 3.505 percent.
“The 12-month euribor today would set this year's peak readings. However, a better description of the recent movements is that after the decline at the end of last year, this year the interest rate in question has gone sideways. The next bigger move is downward,” writes Nordea's chief analyst Jan von Gerich write the message service in X.
The one-year euribor was at its peak at the end of September. At that time, the interest rate was almost 4.3 percent. After that, the interest rate dropped quickly to around 3.5 percent.
During the fall, the market's expectations of a drop in interest rates accelerated. At the end of December, the market expected the 12-month Euribor to fall to around 2.2 percent at the end of this year.
On Wednesday, interest rate derivatives predict that one year's Euribor will be around 2.7 percent a year from now.
On Wednesday, the three-month euribor also dipped upwards. Now the interest rate is 3.946 percent.
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