December could not have started better for those with variable rate mortgages, at the moment they are counting their contribution days due to drops and so far this month we have accumulated a decrease of 201 thousandths which has led it to end the week at 3.725%, its lowest value since mid-April. In monthly terms, the provisional average for December remains at 3.777%, although if this trend continues we may see it close even lower.
This means, in addition to having its second consecutive monthly decrease, that its value will be lower than that of 6 months ago, so those who have to review their mortgage every half year will finally experience a reduction in their monthly payment, but luck will befall those who review annually since they will still have upward revisions and will have to wait until December 2024 to see how they pay less.
How much will mortgages go down in December 2023?
To calculate it, we are going to estimate that the month closes with an average of 3.75%, something quite feasible although next week we could have sudden movements (we do not know if upwards or downwards) since the ECB meets on Thursday the 14th, however Today we can estimate that average as quite probable.
In this scenario, a mortgage of €180,000 referenced to Euribor with a differential of 1% that is reviewed semiannually will go from paying €1,053 per month to paying €1,026, which represents a decrease of €27 per month (€320 per year) in the If the review is annual, the fee will increase by €74.5 per month (€894 per year).
As you can see, at least in the semiannual reviews, the change in the Euribor trend will begin to be noticeably noticeable in domestic economies, something that we hope will worsen in the coming months.
2023-12-09 10:16:09
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