The Euribor, an index that is used every month as a reference for the calculation of the majority of mortgages in Spain, December closed at 3.679%so that it falls below 4% for the first time in the last six months and represents the largest monthly decrease in 14 years.
According to the data consulted by EFE, the Euribor has registered a significant drop in recent sessions: this Friday it stood at 3.51% and on Thursday it was 3.53%, while since last June it was above 4%.
This drop in the Euribor In 25-year mortgages, it will produce a saving of 19 euros in the monthly payment for every 100,000 eurosand 228 euros per year, whose review is semiannual, according to the Association of Financial Users (Asufin).
The continuous increases in interest rates in the eurozone by the ECB took the Euribor to levels of 4.16% last Octoberthe maximum reached this year.
The increases in the Euribor began in April 2022 as a result of the change in monetary policy carried out by the central banks and after more than six years with the Euribor at negative valuesspecifically since January 2016, when the month ended with 0.042%.
The Euribor will continue below 4% in 2024
Experts place the Euribor next year at levels below 4% given the market’s discounted expectation that there will be no more rate hikes by the ECB and that the upward rate cycle has ended.
According to the estimates of experts from Bankinter’s Analysis department, the Euribor will moderate in the coming years. Specifically, and according to their estimates, the 12-month Euribor could weaken to 3.25% in 2024 and 2.75% in 2025.
2023-12-29 18:25:05
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