The Euribor enters positive territory in the daily rate for the first time since 2016

• Housing The escalation of the Euribor adds more pressure to families and makes mortgages more expensive up to 187 euros per year

The

has marked this Tuesday a positive value in its daily rate for the first time since it entered negative territory in February 2016, given the expectation of an upcoming interest rate hike by the

(ECB) , in a scenario marked by the war in Ukraine and the less transitory nature of inflation.

The 12-month Euribor, the index to which most Spanish mortgages are referenced, has risen in its daily rate to 0.005%, placing the average for the month of April at -0.057%, compared to -0.502% in which closed 2021. The index

for the first time in history due to the ultra-expansive policy of the ECB to support the recovery in the euro zone and accumulates more than six years installed below 0%.

After the

that it marked in its daily rate on December 20, 2021, the 12-month Euribor began to rise, boosted by the change of speech of the president of the European Central Bank (ECB), Christine Lagarde, who has been determined to raise interest rates due to escalating inflation in Europe and the energy crisis stemming from the war between Russia and Ukraine.

Along these lines, the

(AHE) explains in its latest quarterly bulletin that the rise in the Euribor so far this year responds to the expectation of a forthcoming rise in interest rates, in a scenario in which the war in Ukraine and the less transitory nature of inflation would be serving as a breeding ground for the ECB to undertake a maneuver towards the normalization of its policy.

Possible rate hike

The president of the ECB opened the door to a rise in interest rates this year in February, while at the monetary policy meeting in March the agency decided to accelerate the de-escalation of net asset purchases under the APP program to end them completely in July, although due to the uncertainty of the

caused by the war, the future orientation of the rate hike changed.

Until then, the agency had said rates would rise "shortly after" asset purchases were completed.

But in March it changed that forecast, indicating that any adjustment in the price of money will take place "at some point" after net asset purchases end.

Also, any change in interest rates

The minutes of the meeting recently revealed that several members of the Governing Council of the ECB advocated starting the path of raising interest rates during the summer months to curb the rise in prices.

Analysts already expect the Euribor to end 2022 in positive values, which will make the installments of mortgage contracts linked to a variable rate more expensive.

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