Interest The most common reference rate for Finnish mortgages started to rise sharpest since March 2020

12 months the euribor reference rate is rising the sharpest since march 2020.

At the beginning of the year, the 12-month Euribor was -0.499 per cent. On Friday, the reference rate was already -0.346 percent.

The interest rate has been negative since February 2016.

Euribor reference rates are common reference rates in the euro area at which banks lend money to each other unsecured in the euro money market.

The 12-month Euribor is important in the housing market, among other places. Most Finnish mortgages are tied to the 12-month Euribor.

Very the change in the 12-month Euribor has been practically daily.

One week ago, on Monday, the reference rate was -0.453 percent. On Thursday, the interest rate was -0.423 percent. On Friday, the interest rate fluctuated to -0.346 percent.

Of course, the 12-month Euribor reference rate is still negative, and interest rate movements are only about percentages.

However, the latest change breaks the rather static phase in the development of the reference rate since autumn 2020.