The interest rate implicit in the contracts awarded to housing credit in the last three months, ending in September 0020 fell percentage points for 5826%. A behavior that has not occurred since May this year, according to the National Statistics Institute (INE), released yesterday.
"The contracts in the last three months, their interest rates implied destinations declined in" construction of housing "and" acquisition of housing ", with decreases of 0222 points and 0012 points to 5872% and 5824%, respectively, increasing the target acquisition of land for construction of housing in 0012 points to 5965%, "advances the same source.
With all the contracts for housing credit, ie encompassing all the time, purposes, a credit and amount outstanding, the implied interest rate increased again in October, compared to the previous month. This rose to 5868%, the highest value ever.
According to INE, "the interest rate implicit in lending for housing reflects the relationship between the total interest earned in the reference month and the amount outstanding at the beginning of this month."
The rise in the interest rate implicit in all the contracts in force, compared to the previous month, was in all destinations of funding considered by the INE: acquisition of land for construction of housing (5763%), construction of housing (5882% ) And acquisition of housing (5865%).
The average value of the shares outstanding, the entire credit to housing contracts in place, reached 54,650 euros in October. An amount which represents an increase of 68 euros for the previous month.
As regards destinations of financing, the average value of the outstanding debt on the total contracts associated with the purchase of the house was 58,691 euros, 73 euros more than in September. Already in contracts for construction of housing was 41,721 euros, an increase of 16 euros.
BBVA expected ECB interest rate of 1.5% in
After two cuts in about a month, the analysts estimate a further decline in the rate of interest of reference of the European Central Bank (ECB) as early as December. The BBVA revealed yesterday its forecast for 2009, which estimates that the rate reductions fall to 1.5% and that rates in the interbank market are fixed at around 3%.
In a meeting with journalists, the chief economist of the department of education for Europe's BBVA, Julian Cubero, said that "there are numerous uncertainties about the intensity and duration of what has been set as the worst economic crisis in decades." In the view of economist, in spite of future interest rate cuts in the reference, it is still too far from the interbank market rates. In addition, states that 'spreads' bank are not accompany the fall in rates with the same force. Julian Cubero, also left a warning: "It will be difficult to return to the values of 2007, before the crack of the crisis."
"The contracts in the last three months, their interest rates implied destinations declined in" construction of housing "and" acquisition of housing ", with decreases of 0222 points and 0012 points to 5872% and 5824%, respectively, increasing the target acquisition of land for construction of housing in 0012 points to 5965%, "advances the same source.
With all the contracts for housing credit, ie encompassing all the time, purposes, a credit and amount outstanding, the implied interest rate increased again in October, compared to the previous month. This rose to 5868%, the highest value ever.
According to INE, "the interest rate implicit in lending for housing reflects the relationship between the total interest earned in the reference month and the amount outstanding at the beginning of this month."
The rise in the interest rate implicit in all the contracts in force, compared to the previous month, was in all destinations of funding considered by the INE: acquisition of land for construction of housing (5763%), construction of housing (5882% ) And acquisition of housing (5865%).
The average value of the shares outstanding, the entire credit to housing contracts in place, reached 54,650 euros in October. An amount which represents an increase of 68 euros for the previous month.
As regards destinations of financing, the average value of the outstanding debt on the total contracts associated with the purchase of the house was 58,691 euros, 73 euros more than in September. Already in contracts for construction of housing was 41,721 euros, an increase of 16 euros.
BBVA expected ECB interest rate of 1.5% in
After two cuts in about a month, the analysts estimate a further decline in the rate of interest of reference of the European Central Bank (ECB) as early as December. The BBVA revealed yesterday its forecast for 2009, which estimates that the rate reductions fall to 1.5% and that rates in the interbank market are fixed at around 3%.
In a meeting with journalists, the chief economist of the department of education for Europe's BBVA, Julian Cubero, said that "there are numerous uncertainties about the intensity and duration of what has been set as the worst economic crisis in decades." In the view of economist, in spite of future interest rate cuts in the reference, it is still too far from the interbank market rates. In addition, states that 'spreads' bank are not accompany the fall in rates with the same force. Julian Cubero, also left a warning: "It will be difficult to return to the values of 2007, before the crack of the crisis."
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