En esta tercera semana de enero el euribor se situa en 0,31% de media mensual contando todos los valores diarios hábiles del euribor que ha habido hasta ahora.
Si el euribor cerrara el mes asi sería la novena bajada mensual consecutiva del Euríbor.
La diferencia anual en caso que el euribor cerrara con este valor actual experimentaría una bajada de 0,252 puntos.
¿Cómo afectara a la Hipoteca el Euribor de enero? Si cerrara así se traduciría en un abaratamiento en la cuota mensual de las hipotecas que les toque revisarse en este mes: Una hipoteca de 180.000 euros a 25 años, su cuota de hipoteca mensual disminuiría en 22 euros, o lo que es lo mismo, 264 euros menos al año.
Euribor doesn’t tell you the story because eroozune banks can get any amount of euro-denominated funding they like, from the ECB. They are drowning in euros (have been for 2 years now), there is no demand to borrow it from private counterparties.The issue is with USD-denominated funding. Banks mostly keep their balance sheets silo’ed by currency. They have USD-denominated debt to finance USD-denominated assets. Now the USD bonds have to be rolled over, and the USD assets have not gone any better since 2007 (although book values have bee frozen at the nicest valuations). So some euro banks need USD badly, and others have plenty of USD but won’t lend it in Europe, hence the parking in US banks.For the «bad» euro banks, USD funding can only be obtained through the Fed-ECB swap lines (to be watched, but little «real time» official disclosures), or by straight out buying USD (liquidating good EURO assets). This has not started yet, it would make the USD rally much more (there was a bout of this in 2008).So there is a potentially big problem, but concentrated on a few names. The USD libor panel details may give them away.
Great post with lots of important stuff.
This piece was a lifejacket that saved me from drowning.
Perfect shot! Thanks for your post!
What a pleasure to meet someone who thinks so clearly