This reduction will be an average saving of 1260 euros per year for people with a variable mortgage, because the Euribor February closed a year ago with a rate of 3,671 %.
He Eurivor A year old, the most used indicator in the Spanish state to calculate the mortgage costs for variable interest, the falling path resumed in February, dropped to 2,407 %, with which it returns to his Lower level since September 2022.
The indicator fell again in February after the rise of January, in 2,525 %, and break with a series of nine consecutive falls.
With this new cut, which have to revise their mortgages every year, will benefit from another Savings in your quotaSince a year ago, in February 2024, the Euribor closed with a higher rate of 3,671 %.
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 105 euros per month or in 1260 euros per year.
In the case of a mortgage of the same characteristics, but with an amount of 300,000 euros, the savings are 211 euros per month or 2529 euros per year.
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.
