Variable rate mortgages will benefit most from this, especially mortgages with a six-monthly review, with a reduction in repayments between 30 and 60 euros.
The Euribor is starting to give mortgages a break. The 12-month Euribor, the index to which most variable mortgages in Spain refer, closed at 3.679% in December, registering the biggest monthly fall since February 2009.
Compared to November (4.022%), the index has fallen by 0.34 points, compared to the fall of 0.48 percentage points in February 2009.
Furthermore, December’s figures represent a return to the lowest level since March last year, when the Euribor closed at 3.647%. However, it is still above the level it ended 2022 at: 3.018%.
In daily prices, the index is already at 3.513%, the lowest level since March 27, when it was 3.469%.
After more than a year of almost continuous increases, a downward trend break in the Euribor is confirmed. Variable rate mortgages will benefit most from this, especially mortgages with a six-monthly review, with a reduction in repayments between 30 and 60 euros.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
