HE euribor It has been used as a reference index in calculating interest rates. mortgages The maximum values recorded since then were recorded in the summer: 5,248% in August 2000, the second highest in its history, and the first recorded only eight years later. This figure, which was 5,393% in July 2008, has not been exceeded so far, to the relief of mortgage holders.
On the contrary, it also recorded its lowest data between February and December: in February 2016, Euribor The first negative data in history And in January 2021, it recorded an all-time low (-0.505%) despite the world being under control due to the coronavirus pandemic, marking a before and after in the mortgage market.
“As a general rule summer months tend to cool economic news both positive and negative, which usually causes the indicator to breathe a bit after August. The markets and the European Central Bank (ECB) are also ‘on vacation’, so the sensitivity of the indicator drops significantly during the summer season”, explains Simone Colombelli, iAhorro, Mortgages manager and mortgage advisor of the comparator. Regarding the minimum data, the spokesperson for the comparator adds: “The end and start of the year is the time of greatest consumption in general and therefore all financial actors (banks, institutions…) try to adapt to it. to facilitate this consumption”.
Although Euribor has been on the rise for almost 20 months, it has yet to break the 5 percent barrier since January 2022. It ended last July 2023 at 4,149% and despite the European Central Bank’s (ECB) policy of raising interest rates interest rates we place them at 4.25%Euribor reduced its growth. So much so that this August recorded a lower figure than last month: 4.072%, when there was no data for the month’s close for five working days.
Could Euribor reach a new high in July? “Everything indicates that the situation is stabilizing,” says iAhorro Simone Colombelli, comparator’s Mortgages manager and mortgage advisor.If the ECB does not raise rates again in September (to meet on the 14th), that will be another stimulus. Thus, the reference index will remain around 4% for several months without significant increases or decreases, at least until inflation is brought under control in the Eurozone”.
In 14 of Euribor’s 24 years of life, September has been a month of declines in this indicator. The biggest decrease from the eighth to the ninth month of the year was experienced in the reference index in 2001. value rose from 4,108% in August to 3,770% in September (-0.34 percentage points). Back then, we were completely free of the dotcom crisis.
So, is September the best month to sign a mortgage? “September is the beginning of a beautiful time. It may not always be the best month, but it’s not the worst either. Normally, from this month, banks start to evaluate how the year went and make one last move in the last quarter to ‘save’ the targets set”, Colombelli replies. Therefore and how Euribor is very sensitive to the economic situation in Europe.If the year ends or starts with good feelings, this indicator will reflect this to its data.