The daily rate of the indicator, which is used to calculate variable mortgages, has been set at 2.986%. The drop comes in the week in which the ECB plans to cut interest rates.
He euriborthe indicator most used in Hego Euskal Herria to calculate variable mortgages, has decreased from 3% in daily rate per first time since december 20222.986%, just three days before the outcome of Thursday’s European Central Bank (ECB) meeting, which is expected to cut rates by 25 basis points.
The index had been falling for several days and was around 3% (it closed at 3.025% on Friday), although it had not fallen below the 3% threshold since December 16, 2022.
The monthly average for September is estimated to be around 3.006%, which will be a slight decline compared to August, which closed at 3.166%.
A year ago, in September 2023, the Euribor stood at 4.149%. The index has been on a downward trajectory since March last year (3.718%). After the decline in March, the indicator fell to 3.703% in April; to 3.68% in May; to 3.65% in June; to 3.526% in July; and 3.166% in August.
The Euribor has therefore experienced five months of declines, which were accentuated by the cut in interest rates (25 basis points) by the European Central Bank (ECB) in June.
Exactly, the European regulator has a new meeting this week and is expected to continue the trend interest rate cuts this thursday.
Source: EITB
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