We are currently at a key moment regarding the price of money, we are uncertain about when and by how much the central banks will begin to lower rates but we are certain that they will do so soon. For now, this week we will have an appetizer as six major Central Banks meet, including the Fed and the ECB.
If we want to see where things will go in the mortgage market in the coming weeks, it is best to see how their counterparts are today, the main savings products, such as fixed income or deposits, and we see how little by little they are reducing their interest, something that we will see transferred to mortgages shortly.
Today we have had Treasury Bill auctions and although the 3-month yield offered rises to 3.620%, its highest level since November 2011, we must look at the 9-month yields that have been placed at 3.510%, well below from the previous 3.705%.
Regarding deposits, yesterday one of the banks that offer the best savings products decided to lower interest, leaving the one-year deposit at 3.546% compared to the previous 4.06%. A good cut.
On the other hand, we have the most obvious indicator when looking at the mortgage market, the 12-month Euribor, which will suffer its biggest drop since 2009 in December.
At the moment all Signs tell us that mortgages will go down next yearthe variables first with the Euribor and the fixed ones will do so later, so if you are looking for one it is something you have to take into account.
2023-12-12 18:03:43
#mortgage #Wait
