Best time mortgages, fixed and variable

Date: September 4, 2010

Source: Europa Press

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Here you have a list of the best mortgages at the time and recommendations to follow for anyone who is deciding to buy a home.

Variable Mortgages

The most talked-month reduction has undoubtedly been the ING, which now offers its customers a discount of 0.20 points in Orange Mortgage, reaching Euribor + 0.49% in both purchasing and subrogation maintaining its main advantages repayment term of 40 years and no commissions. To achieve this rate so low, customers must have their payroll on ING domiciled for more than 6 months and hire a life insurance and home insurance.

Other online mortgage variable rate that, despite not being changed, remain in the top of the cheapest at the beginning of September are the Housing Mortgage Oficinadirecta Usual, Plus On Loan Caixa Galicia and the letter A -e, with interests ranging from Euribor + 0.35% and Euribor + 0.39%.

For the rest of variable mortgages sold outside the Internet, include the Mortgage Rate of Barclays Bank and BBVA, with spreads between 0.45% and 0.50%.

Fixed Mortgage

Bankinter has struck down the fixed mortgage interest for first and second homes. Thus, the fixed rate for a 20-year mortgage down from 4.14% to 3.67% now and the interest of a 30-year mortgage down from 4.67% to 4.06% is now . Fees remain the maximum allowed by law and funded percentage has remained stable compared to last year: 80% for first home and 55% for the second.

Fixed mortgages more competitive market to 30 years are, in order, Bankinter with an interest of 4.06%, the Barclays with an interest of 4.4% and SabadellAtlántico with an interest of 5.2 % to fixed mortgages tied with Solbank and Active Bank.

And in regard to non-competitive so there was also a novelty: SabadellAtlántico has reduced the fixed rate of the first period (4 years) of joint mortgage of 4.40% to 4.10% and the interest of fixed mortgage. If before the holidays 20-year fixed rate was 5.60%, now is 5%, and interest to 30 years, down from 5.80% of 5.20% is now. The repayment term is the same in all mortgages: 40 years, except for its fixed mortgage, funded up to 30 years.

Mortgages on the rise and anti-crisis strategies

In the section on mortgages that have worsened conditions during the summer period stand 3: Mortgage Discounted IberCaja, which has increased both the fixed rate (4.10% to 4.85%) and variable (Euribor Euribor + 1 + 1.10%) of their joint mortgage, the Young Mortgage Caja Rioja, which goes from 0% to 2.95% interest for 3 months, and the Mortgage Subrogation iBanesto, no longer Euribor + 0.38% offers but Euribor +0.45%.

It seems that strategies to tackle the banking crisis can be summarized into three: one, if the entity has not been greatly affected, reach more customers through rebates, two, when the bank has suffered more losses, more expensive to try to increase the income mortgages, and three, if the bank in question has a large stock of houses, trying to sell mortgage very attractive (as Caixa Penedès Euribor + 0.25% or 0.20% Bankinter) financed 100%.

End of the tax deduction

But surely, two impending changes that will have a direct and material effect on the mortgages are (1) the rise in Euribor and (2) the end of the tax deduction for home purchase.

After five months on the rise, the mortgage rate has just closed in August to 1.42% more expensive mortgages fees for the first time in nearly two years, specifically, between 6 and 14 euros compared to August 2009. This slight but steady rise in the Euribor has also led some mortgages have their interest rate up a few cents, just to cover the swing of the market. This applies to the Mortgage Vivenda Oficinadirecta Usual, just raise the interest of their fixed period of six months from 1.60% to 1.75%. This is an understandable rise when you consider that maintaining the 1.60% to August 2010 would amount to a variable interest rate of Euribor + 0.18%. And as the end of the tax deduction for home purchase for incomes above 24,000 euros per year, is expected to cause an increase in the acquisition of mortgages in the latter period of the year that is not happening. In fact, recent data suggest that the INE the number of mortgage loans fell by 17.7% last June.

Will have to wait a few weeks to see which profile takes the new framework of market, banks and users at the gates of 2011.

Data published by helpycash .

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The preference of Spanish savings from 53% in 2008 to 69% in 2010

Date: July 18, 2010

Source: Sources

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The observatory Consumer Trends BBVA has published the results of its study which concluded that the Spanish preference for saving money rather than spend has increased by 13 basis points in the last two years, ie in 2008 53% had Spanish preferring to save, compared to 69% today.

This study also analyzed the percentage of Spanish people who claim to control their costs against those who do not, resulting in the last two years has gone from 78% to 88% of Spanish pointing control your spending. Concluding that the preception of the Spanish over saving has changed in recent months.

Until recently, the fact of saving was considered old-fashioned, outdated and conservative. That certainly has come to appreciate this way for the long period of economic prosperity we have experienced. Showing that the attitude and the opinion of the Spanish into savings is directly proportional to the economic cycle in which we are immersed.

The current crisis has brought new phenomena as the 'Smart buyer', an attitude that is based on the consumer attempts to get the most out of your purchase, from being an impulsive act without premeditation, a task analysis and study personal priorities, in order to optimize spending.

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The stock market plunges 5.32% weekly and placed its lowest level in 12 months

Date: June 5, 2010

Source: Sources

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The fragile financial situation of Hungary, alarm bells ringing does not rule out another crisis to the Greek. Problems of Hungary raised the risk of investing in Spain, the differential with the long-term German debt approached 200 basis points - and the Spanish bond yields exceeded 4.5% at closing.

The collapse of the value of the euro to $ 1.2, its lowest level in five years, and the fall of Wall Street by the poor reception given to U.S. unemployment data May encouraged the punishment suffered yesterday in the Spanish stock market a very black day, driving down the Dow to its lowest level in 12 months down to 8,923 points with a 5.32% weekly.

A renewed fears of a European debacle did not help the reduction of recommendation from HSBC for the stock on the continent.

One must go back to May 2009 to see the Ibex 35 below 9,000 points. Gone is the brilliant recovery experienced by the Spanish stock market in the second half he pulled himself to 12,000.

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Greece and Spain knock down false rumors about the Dow at its worst week since October 2008

Date: May 8, 2010

Source: Sources

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The fear that the crisis in Greece spread to other neighboring countries and thereby hinder the global economic recovery punished the Spanish stock market this week, which recorded the second largest fall in its history, losing 13.78% and back levels of a year ago.

Specifically yesterday, the stock market fell 3.28% , the fourth largest annual decline, and recorded a new yearly low near 9,000 points, affected by the decline of international markets for fear of the spread of Greek debt crisis to other countries.

The last day was the trigger for a week, "black" in which investors opted to sell in bulk.

In fact, to find a larger drop than this week must go back to October 2008, when the stock lost 21.20% of its value in just five trading days.

The main setback was suffered earlier this week, when the false rumor that Spain had requested assistance Interncional Monetary Fund (IMF) to finance its debt caused panic in the Spanish market, where the Ibex-35 is deflated a 5, 41%.

The international agency denied this request, but this did nothing to calm the markets, since a day after he urged Spain and Ireland and Portugal, to apply "promptly" fiscal adjustment measures. Perhaps for that reason, the negotiation of the so-called CDS, insurance to cover the default risk of debt of these three countries, like those of Greece, marked highs for much of the week.

Like the Spanish stock market, other European markets fell yesterday to force the withdrawal of capital from European investors estadoundenses and dragged by the Wall Street downtrend in share trading hours.

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Pandemic Greek, every man for himself

Date: May 5, 2010

Source: AlertNet

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The "pandemic" Greek is already on the table, rising country risk more generally throughout the euro area and with the stock falling block. The start of Portugal on negative watch by Moody's was now the main trigger investor panic that led to the Dow losing 2.27%, in a highly volatile session. In addition, serious riots in Greece have raised fears that the government can not implement the adjustments, which would mean the suspension of payments of the Hellenic country.

Another dark day for European equity markets, the day the ECB council member warned of the risk of contagion of the Greek crisis. But that contagion is a reality, as demonstrated by the general fall in European equity markets and Wall Street, he could not abstract the problem of the Eurozone, although corporate earnings and relatively positive economic data.

The Dow, who came to threaten 9,500 points, finally closing with a drop of 2.27% to 9,635 points, surpassing the falls of its main European counterparts. Paris was down 1.44%, down 0.78% Fracfort and London, 1.28%. The Eurostoxx subtracted 0.91%. Trading volume soared continued: 9.849 million euros.

"While it is true that in many markets 'speculators' who 'fish in troubled waters' and even spread false rumors to profit from their positions in this case of short-positions, so is that these rumors would fall on deaf ears if there is no basis for their success. And that basis is that the markets, after all who will lend the money, consider some of the fiscally weaker countries of the Eurozone, including Spain, are not doing their homework. Investors demand, playing with the equation risk / profitability, higher returns to countries that provide means assuming more risk, "he commented at Link Securities.

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