Those with mortgages are leaving We close the year with good news. Euribor closed at 3.679 percent. The lowest monthly average data recorded since MarchMeanwhile, the indicator was at 3.647%.
Additionally, the benchmark index is on record Values around 3.5% throughout DecemberIt is half a point below the data recorded in November.
Will stay This trend in the coming months? “Absolute Be careful and don’t get to the top too quickly because the most likely thing is that Euribor will remain around 3% for months before continuing to fall,” warns Simone Colombelli, director of mortgage comparator Mortgages and advisor at iAhorro.
However, Colombelli admits: data closing the year euribor It was surprising: “We were expecting a decline, but not that much, rather it will be a gradual decline and Euribor will settle around 3.5-3.7%.” Of course he also adds:It is not possible to sustain this rate of decline for a long time. “And we cannot rule out that there may be another increase, albeit minimal, to adjust the levels of this indicator to around 3 percent.”
A lower Euribor Particularly benefits people with variable mortgages. For now, those who will notice a decrease in their installments are those who review their variable rate loans every six months. In fact, someone with a €150,000 mortgage with a Euribor +0.99% TIN will see their payment drop to €761.53, representing a reduction of almost €30 (-€27.32) each month.
Users you have If it is a variable mortgage with annual review, they will not yet notice this drop in Euribor on their installments. If we take the previous example, 761.53 euros per month is 54.52 euros more than in December 2022, when the monthly payment was 707.01.
And when quota mortgages variables with annual review? “Whoever controls your mortgage You may start to notice small differences starting from March/April.An iAhorro spokesperson said there were only minor cuts to their monthly payments.
Euribor also fell It causes fixed and mixed mortgages offered by banks to be cheaper. But another factor also needs to be taken into account: official interest rates. There is no news that the European Central Bank will cut interest ratesSomething that will help reduce the mortgage interest rates offered.
“It is interesting to remember that in a context where Euribor is above 4%, we continue to see fixed mortgages below 3% TIN for very good, very solvent profiles. We could see fixed mortgages at 2% in a few months and these will be very good offers for all future mortgage holders,” emphasizes Colombelli.
Negative Euribor… Is it possible?
Although negative Euribor favors people with variable mortgages, Not synonymous with a good economic situation. “A negative Euribor is synonymous with a crisis and therefore requires a very cheap investment of money to stimulate consumption and investment,” emphasizes Simone Colombelli, Mortgage Director at mortgage comparator and advisor iAhorro.
For this reason…What would be a good Euribor for our economy?? “Euribor is about 2% or just under, which is a high enough interest rate to encourage people who want to save to save, but also low enough that if you want to borrow money you can,” Colombelli said. .