The most commonly used indicator in Spain to calculate the mortgage costs for variable interest rate is in January, with an average rate of 2,525 %.
The Euribor One Year, the most used indicator in Spain to calculate the rates of mortgages at variable interest rate, is in January in the increase, with an average percentage of 2,525 %, and has terminated a line of nine consecutive decreases.
Despite the increase in the indicator, the first since March 2024, who have to revise their mortgages every year, will benefit from new savings in their episodes, since a year ago (January 2023) the Euribor closed with an upper rate, of 3,609 %.
In this way, in the case of a mortgage credit at a variable interest of 150,000 euros, a period of 25 years and an interest rate of 1 % on the Euribor, the reimbursement is reduced by around 90 euros per month or by around 1081 euros per month year.
In the case of a mortgage of the same characteristics, but with an amount of 300,000 euros, the reimbursement of 1686 euros, at 1505.90 euros. This means savings of around 180 per month or 2160 euros per year.
Source: EITB
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