Variable-rate mortgage holders in Spain are bracing for another round of monthly payment increases, despite a slight moderation in the Euribor benchmark.
The key reference index closed June at 2.798%, a marginal dip from the 2.804% recorded in May, according to data reported by ABC.
8% means that borrowers continue to face elevated servicing costs, with no immediate relief in sight from the broader trend of higher borrowing costs that has defined the market over recent months.
The fractional decline in the benchmark does little to alleviate the pressure on households.
Because mortgage interest rates are typically reset based on the index value from the previous month, the June reading will determine payments for July.
The persistence of rates near 2.8% means that borrowers continue to face elevated servicing costs, with no immediate relief in sight from the broader trend of higher borrowing costs that has defined the market over recent months.
The stabilization of the Euribor at these levels reflects the broader monetary environment in the eurozone.