July Euribor at new record level

The Euribor, the main indicator for setting mortgage and interest rates, ended July at another record high of 5.393%.

The Euribor rose for the fifth consecutive month, setting a new record high of 5.393%. As the principal means of calculating mortgage rates, it means that people will be paying back more each month.

A €150,000 mortgage, repayable over 25 years and reviewed annually will see repayments rise by €72 per month from €839.21 to €911.57.

A €150,000 mortgage, repayable over 25 years and reviewed every six months will see repayments rise by €91 per month.

However, financial experts do not see the Euribor changing significantly during the next few months.

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