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Housing loan. November brings another increase in the payment to the bank, and it will not be the last

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Home loan: Interest rates have already risen more than in the 2008 crisis See how far they can go

If your contract is renegotiated this month, be prepared to increase your payment to the bank. Check the simulations and find your case

Inflation continues to rise in Portugal and the euro area. In October, it exceeded 10% compared to the same month last year. To try to stop this growth, which at the moment seems endless, also in October, the European Central Bank (ECB) raised interest rates again and set its main rate at 2%. Three months ago, the same rate was 0%.

The story is not new. This is repeated month after month. Prices are rising, interest rates are rising. And the markets anticipate this trend.

Not surprisingly, Euribor rates rose again in October compared to the previous month. Since the beginning of the year, the story has always been like this, and while the three-month Euribor has already risen by almost two percentage points, the six-month Euribor, most used in home loans in Portugal, has already increased by more than 2.5 percentage points. The same 12-month rate has increased by more than three percentage points since January.

The result is a huge increase in the payments that Portuguese people who have mortgages have to pay to the bank each month. This month will be no exception and anyone whose contract is renegotiated in November will feel the same way.

The increase can range from just under €30 per month to over €230. It all depends on the amount of capital due and the index used. But I’m sure there will be ups and downs.

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How much will mortgage lending grow in November

Loans for 30 years with 1% spread

Loan 25 thousand euros
Euribor 6 months Euribor 12 months
pays 76.98 pays 75.05
go pay 105.36 go pay 114.07
Increase 28.38 Increase

39.02

Loan 50 thousand euros
Euribor 6 months Euribor 12 months
pays 153.78 pays 150.1
go pay 210.72 go pay 228.14
Increase 56.94 Increase 78.04
Loan 75 thousand euros
Euribor 6 months Euribor 12 months
pays 230.67 pays 225.15
go pay 316.08 go pay 342.21
Increase 85.41 Increase 117.06
Loan of 100 thousand euros
Euribor 6 months Euribor 12 months
pays 307.55 pays 300.2
go pay 421.44 go pay 456.28
Increase 113.89 Increase 156.08
Loan 125 thousand euros
Euribor 6 months Euribor 12 months
pays 384.44 pays 375.25
go pay 526.8 go pay 570.35
Increase 142.36 Increase 195.1
Loan of 150 thousand euros
Euribor 6 months Euribor 12 months
pays 461.33 pays 450.3
go pay 632.16 go pay 684.41
Increase 170.83 Increase 234.11

The promotion doesn’t end in November

And it’s safe to say that October’s Euribor hike will not be the last, as the European Central Bank has already guaranteed that it will keep raising its interest rates. In fact, a new meeting will be held in December to make decisions on monetary policy, which in practice means a new increase in the interest rate.

Until then, it is not surprising that the Euribor rates are following the movement, which leads to a new increase in average rates and a new increase in the payment payable to the bank for mortgage holders whose contracts are renegotiated in the last month of the year.

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Economy

Bankers demand 6.25% pay rise at ‘breaking point’ and refuse further layoffs – ECO

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Bankers demand 6.25% pay rise at 'breaking point' and refuse further layoffs - ECO





Bankers demand 6.25% pay rise at ‘breaking point’ and refuse further layoffs – ECO































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Woman with fake belly caught smuggling hundreds of semiconductors (already worth 500 times more)

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Woman with fake belly caught smuggling hundreds of semiconductors (already worth 500 times more)

Sanctions and supply chain issues have created a parallel market in China, where these chips are sold for 500 times the market value.

Chinese customs officials caught a woman trying to smuggle semiconductors inside a prosthetic belly while pretending to be pregnant. This arrest sheds light on the reality of smuggling that has emerged in the world’s second-largest economy following the sanctions imposed by the United States of America.

According to bloomberg, a woman was caught by the authorities while trying to enter Zhuhai via Macau on November 25. According to customs authorities, the suspect had more than 202 processors and nine smartphones.

The woman came to the attention of the authorities when she was asked what month she was pregnant. “She said she was five or six months pregnant but she had a big belly that looked like she was in her third trimester,” Chinese officials explained.

The economic crisis caused by covid-19 and all the problems that have arisen in the supply chain have opened the door to the emergence of a black market in semiconductors in a country that needs these advanced chips to produce millions of products.

The situation has worsened recently as the Joe Biden administration tightened sanctions on China, focusing on developing advanced technologies, especially for military use.

According to the North American economic publication, the situation is so serious that the prices of these devices reach values ​​up to 500 times their market price, which creates ideal conditions for creating an entire parallel market with telecom operators and resellers.

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Economy

Reduced provider discount in December due to falling fuel prices

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Reduced provider discount in December due to falling fuel prices

The Ministry of Finance reported that in December there is a decrease in the ISP discount by 3.9 cents per liter of diesel fuel and 2.4 cents per liter of gasoline, taking into account falling prices.

The guardianship statement states that, as announced, “the mechanism applied in the ISP is equivalent to reducing the VAT rate from 23% to 13%, and the compensation mechanism through the ISP reduces additional VAT income as a result of the changes. in fuel prices remain in effect.

Thus, taking into account the evolution of diesel and gasoline prices, “these temporary measures result in a reduction in the ISP rebate of 3.9 cents per liter of diesel fuel and 2.4 cents per liter of gasoline. a discount of 17.1 cents per liter for diesel ISP and 15.4 cents per liter for gasoline ISP,” the same note reads.

On the other hand, “the carbon tax update will be suspended until the end of the year,” and “taking into account all the measures in place, the reduction in the tax burden is 27.3 cents per liter of diesel fuel and 24.7 cents per liter of gasoline. “.

The government’s rebate mechanism assumes that a decrease in the price of fuel results in an increase in the Tax on Petroleum Products (NPT) due to a drop in VAT revenues.

“Measures to mitigate the increase in fuel prices remain in place in the month of December, while the government continues to support all consumers by reducing fuel taxes,” the ministry reminded.

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The ISP’s rebate, equivalent to a 13 percent VAT rate cut, was due to run until September 4 but was later extended through the end of the year as part of the government’s family relief package due to price hikes.

Average fuel prices have returned this week to below pre-war levels in Ukraine on Feb. 24, with a 5.1% drop for petrol and 4.1% for diesel calculated by ERSE.

According to the “Weekly Report on the Surveillance of Selling Prices for the Public” published on Monday evening by the Entidade Regladora dos Serviços Energéticos (ERSE), “For the week of 28 to 4 December, the effective pre-tax price is 0.860 euro/l. [euros por litro] for straight petrol 95 and 1067 euro/l for direct diesel”, which after tax is 1660 euro/l and 1685 euro/l for straight petrol 95 and straight diesel, respectively.

These figures are comparable to average prices of 1,816 euros/l for 95 straight-through gasoline and 1,660 euros/l for direct diesel filled on February 24 when the Russians invaded Ukraine, according to the Directorate General of Energy and Geology (DGEG). ).

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