«The ECB has raised the cost of money, everyone talks about it, and yet the
my installment remained the same, how is this possible?" We happen to see this too
in the world full of surprises of real estate mortgages. Oh yes, because as often
it happens in Italy, banks don't like simple things and each one adjusts the installments
to increase rates in a different way. First of all, there are those who link interest
to the one-month Euribor, some to the three-month one, some even to the six-month one
months even if the installment is monthly. This alone would be enough to make you lose the
head to the poor saver, but it's not enough. Someone just takes the
value of the first day of the month or the last of the previous month, others
they prefer the value of the installment due date. The most scrupulous ones do
the average of the values for the entire period and there are also those who note the average value
semi-annually and then keeps the monthly payment fixed for six months, practically a rate
semi-fixed! The only consolation of this babel of rates is that in the span of
a ten or twenty year long term, like that of mortgages, the saver in
Fundamentally has little or nothing to gain or lose from these alchemies. And then, first
that the euro era brought with it the Euribor, the Ribor existed, but also the
Libor, the Interbank Lira, the Rendistato, the Prime Rate: basically we can
call us lucky.
source: IL SOLE 24 ORE
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