[Chopera]

http://www.elmundo.es/elmundo/2013/04/05/suvivienda/1365152687.html

Sounds like the Spanish banks are starting to use the IRPH instead of the euribor as the reference index for variable rate mortgages.

The euribor is currently around 0,5% while the IRPH is above 3%

Banks are currently offering mortgages with a large spread above the euribor anyway (it used to be about 1% but now it’s around 3% I think) so it might not make an immediate difference, but I suspect the long term effect will be to make Spanish mortgages more expensive.

[Anonymous]

We have 1% above Euribor rate… one little good to come out of the drama.

The rate in May is what we start to pay in July so can we all think positive thoughts to lower the Euribor even more for May please! 😉

[Author]

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