European Central Bank

/ The Euribor rises in daily rate up to 2,150% and close June at 2.14%. Despite this slight stagnation (took five months in a row going up) who now review your mortgage will have an increase in your monthly payment. Experts say that the index will close 2011 at around 2.5%. The euribor, indicator of rrencia for the majority of mortgages, will close June 2,143%, four hundredths less than may. Despite this slight stagnation (took five months in a row going up) who now review your mortgage will have an increase in your monthly payment. And is that in June 2010 the euribor was 1,281, so the annual review that will make this month more expensive mortgage an average of 50 euros per month (approximately 620 euros per year) for an average of 120,000 loan to 20 years. If the review that is now biannual, the rise will be smaller, 36 euros and about 228 euros the semester.

In the case of half-yearly review mortgages, quotas will experience a slight rise, since the upturn in relation to the data of December Euribor (1,526%) is lower in comparison with the data of June 2010, when the index stood at 1,281%. Thus, quotas will reach June 527 euros, representing 38 euros more and 228 euros more for the fall semester. The quotation of Euribor was characterized by a degree of stability during the first days of June, however, the uncertainty about Greece and the fear of a suspension of payments raised tensions in the interbank market. The lack of confidence and the maximum levels of the risk premium increased the quotation of euribor during the second half of the month, although the index remained at moderate levels and will be placed below the level of may in June. Experts say that the index will close 2011 in around 2.5%, although this level will ultimately depend on rate policy that carried out by the European Central Bank (ECB). l euribor stagnates but rises the mortgage euribor, indicator of rrencia for most of the mortgages, will close today June 2,143%, four hundredths less than may. Despite this slight stagnation (took five months in a row going up) who now review your mortgage will have an increase in your monthly payment. And is that in June 2010 the euribor was 1,281, so the annual review that will make this month more expensive mortgage 50 to monthly average (620 euros per year) for an average of 120,000 loan to 20 years. If the review that is now biannual, the rise will be smaller, 36 and about 228 per semester. Source of the news: euribor restrains his rise but the mortgage continues to rise

Internet Services

Although it declared abusive clauses in Internet services. The magistrate has been partially estimated collective demand that lodged in March the OCU against both financial institutions. Judge protects in a report of the Bank of Spain to hold that the clause floor cannot be considered abusive. When users were winning the battle against clauses soil of mortgages (increasingly more sentences condemn coming from banks and savings banks), comes a sentence that gives reason to banking. A Madrid judge has declared abusive clauses of BBVA and Banco Popular in their Internet services, but instead has validated the soil clauses.

It has been the Juzgado de lo Mercantil number 9 for Madrid has declared void 22 clauses of mortgages and other products of BBVA and Banco Popular by having an abusive and infringing the rights and interests of consumers, although it has validated the use of so-called clauses soil. Judge Javier Yanez has been partly estimated the collective demand that lodged in March the Organization of consumers and users (OCU) against both financial entities, which required that they set aside 51 alleged unfair terms present in five separate contracts. For BBVA sentence demonstrates that banks enjoy freedom to fix the rate of interest to be perceived or how to establish it. In a statement, the Bank chaired by Francisco Gonzalez has stressed that the Madrid Court’s decision is the second that supports the imposition of this minimum interest paid on mortgages, after which dictated the mercantile court number 2 of Alicante on 8 June. A minimum of 3% or 4.5% the judge not considered disproportionate clauses soil applied by BBVA and Popular, which consist in establishing a minimum interest for mortgage holders, which in recent years has proved superior to the Euribor, which has harmed them. In the case of BBVA, the minimum interest was 3%, compared to a maximum of 15%, while the Popular forced to the customers pay a minimum of 4.5%.