| Date: October 5, 2010 | Source: AlertNet |
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Loading ... The Bank of Japan put an end to the spate of momentary drops in European stocks by agreeing to lower interest rates. Furthermore, the proper data in the service sector in the U.S. encouraged investors to open positions ahead of the earnings season. The progress of the Ibex, the ACC and the Eurostoxx exceed 2%, which led to the Spanish index to recover the 10,600 points. The euro recovered to the level of $ 1.38 and Gold hit another record.
The precedent that has established the Bank of Japan to agree to lower interest rates between 0% and 0.1% over well to the stock. The Dow fired the day with a rise of 2.58% to 10,651 points, with all values in green. The Eurostoxx, in turn, was up 2.12%, ACC rose 2.25%, the DAX added 1.34% and the FTSE, 1.48%.
"The Bank of Japan's open season on the season of new monetary stimulus. The monetary authority has gone beyond what the market expected, which makes us think that other institutions also take categorical decisions to try to revive economic recovery and fighting deflation, "pointing at Bankinter.
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| Date: February 27, 2010 | Source: Europa Press |
Go ahead and rate this post Loading ... The Euribor, the benchmark granted most mortgages in Spain, closed the month of February at 1.225%, representing a decrease compared to January seven thousandths (1.232%), but 0.91 points on to February 2008 (2.135%).
Susana Felpeto, Atlas Capital, told Europa Press that the fall in Euribor will be extended in time because the rise in interest rates will also be a bit longer than originally planned on, but predicted that the fall of the indicator it will become smaller.
In his view, interest rates will not rise until early 2011, so the Euribor could go down to the end of 2010. In this sense, explains that if it is confirmed that the ECB raises rates in the first months of next year, the indicator will anticipate the rise and could rebound slightly in recent months of this year.
In the short term, the expert noted that the indicator will continue as before and could touch down at 1.20%, height from which it could begin to pick up gradually. In fact, the market may have already begun to deduct that interest rates remain low longer than expected and therefore recorded a sharp decline today newspaper.
Meanwhile, Ignacio Victoriano, Renta 4, agreed to note that the Euribor is near its minimum level and therefore also predicted that the fall will become weaker. In his view, the ECB did not move interest rates in at least the next twelve months, allowing the indicator to enjoy some stability until then.
Indeed, the Federal Reserve chairman, Ben Bernanke, said yesterday that with current economic conditions are likely to ensure that interest rates will remain at levels "exceptionally low" for a "prolonged period of time."
| Date: July 17, 2009 | Source: Economic @ 21 |
Go ahead and rate this post Loading ... The Euribor, the interest rate that are referenced most mortgages in Spain, Friday marked a new low to stand for the first time ever below 1.4%, placing his daily rate at 1.395%.
Thus, the Euribor has dropped a notch, after breaking the barrier of 1.4% for thirteen days, and further narrowed its differential with respect to official interest rates, which stood at 1%.
The indicator continues the downward trend that began on June 10, thereby sum and a straight monthly declines, placing her on a monthly basis at 1.441%, the lowest in history. If the Euribor keeps the current behavior until the end of the month, will close July at around 1.4% and will chain followed ten months of cuts.
The fall is recording the Euribor is allowing average families with mortgages save between 2,000 and 3,000 per year for the payment of these, depending on the amount of the loan and when hired, and the fall, most likely record the indicator in July, will further expand these savings.
| Date: July 3, 2009 | Source: Europa Press |
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Loading ... The Euribor, which are referenced indicator most mortgages in Spain, on Friday marked a new low rate to stand at 1.468% on daily, after the decision of the European Central Bank (ECB) to maintain interest rates at 1%.
The Euribor delves into the downward path that led him to break the 1.5% floor on Wednesday for the first time, and continues to narrow the gap with the official price of money, as the market took for granted that the European Central Bank types would not touch.
Experts say that the indicator will continue to fall and harvesting lows, but said that when the economy recovers and rates begin to rise, the Euribor could return to pick up.
The fall of the Euribor will allow families to save more than 3,000 per year by paying your mortgage, depending on the amount of the loan and when hired, however, customers are feeling the effects of the decline in its entirety as institutions are rising spreads.
In this sense, the Spanish Mortgage Association warns of the risk associated with a mortgage at current levels of Euribor, because when interest rates start to rise, the indicator will start its upward path, but do not believe that again exceeds maximum levels of 2008.
| Date: June 30, 2009 | Source: Sources |
Go ahead and rate this post Loading ... The Euribor, which are referenced indicator most mortgages in Spain, closed on Tuesday June at 1.610%, the lowest monthly level of its ten year history, and cheaper mortgages at 310 euros per month and more than 3,750 euros a year.
This is the biggest cut in mortgages so far as the differential of its value a year ago is the largest in history. His last daily rate of 1.504% is also a record low.
The indicator now has eight consecutive months of falls and slightly cut rates in May, the month in which closed at 1.644%. Compared to June 2008, the Euribor has dropped nearly four percentage points (3.751 points).
The fall of the Euribor is not enough to encourage the housing market, as consumers await further correction in house prices since the uncertainty is cleared on the progress of the economy, as evidenced by the recent data INE.
The private housing prices deepened their decline in the first quarter, a reduction by 7.6% year on year, compared to a decrease of 5.4% achieved in the fourth quarter of 2008 and down 3% experienced in the third quarter last year.
However, the experts consulted by Europa Press indicate that the decline in Euribor reflects the growing confidence of banks in the financial system and could be interpreted as a tentative sign of recovery in this scenario that tends to anticipate economic recovery.
The decline in Euribor not only reduces the risk that the mortgage can not cope with the letter month and become delinquent, dragging down the activity of financial institutions, it fattens the disposable income of families and may encourage spending consumer products.
Analysts forecast a fall in the Euribor based on the decline in official interest rates now at 1%, but maintain its forecasts in the European Central Bank's measures to boost liquidity, as banks unlimited readiness for twelve months to 1% or the purchase of bonds.
So, point to the possibility of some more of the indicator down to break the soil of 1.4% if the European Central Bank's measures are having their desired effect and contribute to progress into mainstream financial markets, a prerequisite for the economic recovery.
If the Euribor manages to stay the remainder of the year below the fork of 2%, as experts predict, the decline in mortgage payments will result in savings of 20,000 million euros for families in the aggregate at year end , according to forecasts by the Spanish Mortgage Association (AHE).
| Date: May 29, 2009 | Source: Sources |
Go ahead and rate this post Loading ... The Euribor, the kind that are granted the most mortgages in Spain, closed May at 1.644%, so that chains eight consecutive months of declines, marks a new low and cheaper mortgages in more than 2,200 euros a year.
Although the gauge broke on May 20 the downward trend that had persisted throughout the month on your daily rate, totaling eight straight sessions of gains, the May monthly level is the lowest ever recorded in the history of Euribor and will involve a substantial reduction in fees on mortgages.
The indicator returned to resume its downward course daily rate stood at 1.631%, 0.010 hundredths below the level of yesterday (1.641%). With the monthly decrease, the Euribor 0.127 points cut in the April level (1.771%) and 3.35 points in the level of May 2008, when it stood at 4.994%.
However, experts point out that banks are compensating for the fall of the Euribor with an increase in spreads, which causes the crash advantages not reverse indicator entirely on the client.
Still, for an average mortgage of 119,067 euros, according to latest data from the National Statistics Institute (INE), a spread of 0.75% over a period of 26 years and Euribor 1.64%, the monthly of the mortgage as of June will be about 512 euros, a saving of 223 euros per month and about 2280 per year.
Analysts polled by Europa Press report that the Euribor rise in recent days has been due to the emergence of new tensions in the markets due to uncertainty about a rise in inflation, which could cause an upward movement in rates interest, especially when the European Central Bank (ECB) has said on occasion that you are not comfortable with interest rates very low.
However, experts suggest that the Euribor will remain low for a while, and that maintenance of minimum levels of interest rates will help the Euribor not reach levels as high as those recorded before the start of the crisis .
| Date: May 21, 2009 | Source: Economic @ 21 |
Go ahead and rate this post Loading ... It appears that the Euribor to twelve months, the main benchmark in the calculation of mortgage interest studied in Spain, not to continue falling, which is that since it was last revised interest rates down to 1% The Euribor has been unleashing consecutive downs to fit sequentially at rates fixed by the ECB, but it seems that the market perceives that there will be future declines in the short term, so that the Euribor is resisting to break and consolidate below 1 , 6%.
This week is the first so far this year the Euribor bounces two consecutive days, closing today at 1.61% after touching 1.59%, and probably have to wait for upcoming meetings of the European Central Bank ( ECB) to determine whether to continue its downtrend, or else has touched ground.
