Compared to the previous year, the reduction is 1.5 percentage points and means an average saving of up to 1,600 euros for people with a variable mortgage.
He euribor to 12 months, the main reference for variable mortgages, closed the month of November in the 2.5% (provisional rate), which is the lowest level for this reference from September 2022People with a variable loan will therefore experience a significant reduction in their payment.
In concrete terms, the Euribor fell by 18.3 basis points in November compared to 2.691% registered with October.
However, compared to November 2023 The reduction amounts to 1,513 percentage points, as it will occur in November 2023 4.022%.
For example, someone who has taken out a variable mortgage of 150,000 euros for 30 years and with a difference of 0.99% plus Euribor and has to revise his interest rate will have a reduction in your fee of approximately 132 euros per monthi.e. approximately 1600 euros per year.
The index has been declining for eight consecutive months and managed to fall below 3% in September after spending much of 2023 above the 4% mark.
The Director of Mortgages at iAhorro, Simone Colombelli, has suggested that with the current Euribor interest rate it could end the year at 2.30% or 2.35%.
Looking ahead, HelpMyCash analyst Miquel Riera has suggested that interest rates could be cut further if Donald Trump’s policies force the European Central Bank (ECB) to be more aggressive in its rate cuts.
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.
