Euribor closes February at 1.711%

The Euribor has ended February at 1.711%, the highest rate for 20 months and the seventh consecutive monthly increase.

An average mortgage of €150,000 over 25 years taken out in February 2010 with a spread of 0.25% will mean an increase of €34 in the monthly repayments from €580 to €614.

This equates to about €400 per year extra to pay.

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