According to market data, the Euribor chains register the fourth consecutive fall in May and the biggest decrease in sixteen years in an interanual rate. This strong year -on year of decrease will result in a reduction amount for those who have to revise their variable mortgages.
He Eurivor After twelve months, the most used indicator in Spain to calculate variable mortgages is closed again downthere 2,081 %And experts expect to fall under 2 %if the European Central Bank (ECB) reduces interest rates on 5 June.
According to market data, the Euribor chains are IT in May Fourth consecutive fallAlthough moderate, taking into account that it closed 2,143 %in April.
However, in an interanual rate it registers the biggest decrease of sixteen years. And in May 2024 the Euribor closed at 3,680 %, 1.6 percentage points above the current value.
This strong Year -on years of falling will translate into a reduction amount for those who have to check their variable mortgages. In the case of an average mortgage of 150,000 euros, 25 years and an interest rate of 1 % on the Euribor, the savings in reimbursement are around 132 euros per month, or more than 1500 euros per year.
If the mortgage credit is 300,000 euros, with the same conditions above, the savings will reach 263 euros per month, or the 3 100 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.
