Prestação da casa mais alta em dezembro, mas não tanto quanto novembro

The highest house rendering in December, but not as much as in November.

Data shows that the home loan installment increases again in December, but not as significantly as the increase in November. There is a slowdown, although a decrease is not yet expected. Read the simulations and see how you can lower your monthly home loan installment.

12 Dec 20234 min

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I heard... to lower the monthly installment of your house? That's our specialty! Contact the credit intermediaries of Poupança no Minuto and find out more. Or first read the specific values ​​at stake.

Mortgage repayment increase again, but at a slower pace.

According to a simulation by Deco/Dinheiro&Direitos, cited by Notícias ao Minuto publication, the home loan installment for December will once again increase for all variable rate contracts indexed to Euribor, but it will not be as significant as it was in November.

Faced with the examples presented in the simulation:

  • A mortgage loan of 150,000 euros in debt, with a term of 30 years, with Euribor at 12 months and a spread of 1%, will now pay a monthly installment of 807.25 euros, compared to the installment of 701.33 euros paid up to now (a difference of 105.92 euros, which is a smaller increase than the contracts with Euribor at 12 months that were renewed in November, which saw an increase of 135.55 euros in their installment);
  • A mortgage loan with the same conditions described above, but with the Euribor at six months, sees an increase of 38.87 euros in its monthly installment compared to June;  
  • A mortgage loan with the same conditions, but with the three-month Euribor, will see its monthly payment increase in December to 802.67 euros, which represents an increase of 17.48 euros monthly compared to the September review.

Note that in these last two examples, the increase suffered in the monthly payments in December continued to be less relevant than the increase recorded in contracts renewed in November, since the rise in Euribor rates slowed down.

For these simulation calculations, the current average values of Euribor in November were considered - 12-month Euribor at 4.022%, 6-month Euribor at 4.065%, and 3-month Euribor at 3.972%.

It should be noted that the variation of Euribor rates is related to the variation of the key interest rates established by the European Central Bank (ECB). Euribor had been in negative values for several years, but on February 4th, it experienced a significant increase "after the ECB admitted that it could raise interest rates due to the increase in inflation in the eurozone", as reported in the news shared by Notícias ao Minuto.  

There were 10 consecutive times when the ECB increased the benchmark interest rates, but it seems there was forgiveness: on October 26th, the cycle was interrupted, with the ECB deciding that the rates should remain unchanged.

Since then, the article mentions that "the deposit rate remains at 4%, the highest level recorded since the launch of the single currency in 1999, while the main refinancing rate stands at 4.5% and the rate applicable to the permanent liquidity lending facility remains at 4.75%".

House mortgage too high? Lower the cost by transferring to another bank.

If, even so, your monthly home payment has increased significantly in December, consider options that allow you to lower the amount.

Currently, there are banks that allow you to transfer your credit by modifying conditions: such as the main condition causing the increase in your installment. The fact of having a variable rate indexed to Euribor is what is leading to the constant increases in the monthly payment you make.  

So banks are promoting campaigns that allow switching to a mixed or fixed rate, lower than the Euribor rates. In addition to obtaining a lower value, it ensures greater stability because, in both cases, you pay the same rate (even though in the mixed rate it is temporary for the years you decide), and prevents any surprises.

If you want to transfer your mortgage to have access to these rate options, talk to us. The credit intermediaries from Poupança no Minuto can help you throughout the process for free, advising and supporting you, so you can make the best decision for your wallet! Poupança no Minuto

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