Hi how are things? Well, thanks for asking, although I’m a little nervous since then Those at the ECB have not sent me an invitation for Thursday lunchthe one they always have after the meeting and in which, as they say there in Frankfurt, “Everyone goes crazy like Las Grecas” (everyone acts like Las Grecas) and Lagarde and De Guindos dance very close. And it’s a shame because if I like anything in this life it’s snacks and Las Grecas. And also for the Euribor to go down, because we’ve had a lot of that recently.
That’s good, intern, now give me Euribor today.
We continue into the second week of September and we do so by happily falling to new yearly lows. In particular, The benchmark index most used in mortgages falls 16 thousandths to 2,970%
in terms of The average for the month of Euribor in September 2024 is 3,045%, although our forecast is that it will end the month at around 2,995%. This will mean a small drop compared to the month of August (which closed at 3,166%) but a more interesting cut for those who review annually (in September 2023 it was at 4,149%).
How much will the monthly mortgage payments be lowered?
With a temporary Euribor average of 3.045%, a mortgage of €150,000 for 25 years with a spread of 1% and a semi-annual review, will go from paying 977.42 euros to paying 920.49 euros , which represents a monthly change of -56.9 euros. If the review is annual, you will go from paying 1014.96 euros to paying 920.49 euros, which represents a monthly change of -94.5 euros.
Euribor values for the year 2024
| Mes | Monthly Average | Monthly Difference | Semester Difference | Annual difference |
|---|---|---|---|---|
| September | 3.045% | -0.121 | -0.673 | -1.104 |
| August | 3.166% | -0.360 | -0.504 | -0.907 |
| Julio | 3.526% | -0.124 | -0.079 | -0.623 |
| June | 3.650% | -0.031 | -0.030 | -0.358 |
| Mayo | 3.680% | -0.023 | -0.342 | -0.182 |
| April | 3.703% | -0.015 | -0.457 | -0.053 |
| March | 3.718% | 0.047 | -0.431 | 0.071 |
| February | 3.671% | 0.065 | -0.402 | 0. 137 |
| January | 3.605% | -0.074 | -0.544 | 0.268 |
When will the ECB meet again?
At the last monetary policy meeting, held on July 18, the ECB decided to maintain interest rates. The next meeting of the European Central Bank will be held on September 12 in Frankfurt and based on current economic data, rates could drop again.
Financial markets have lowered their expectations of rate cuts since the start of this year, which led to a 12-month rise in Euribor in the first half of the year.
The Euribor (short for Euro Interbank Offered Rate) is the interest rate at which banks lend money to each other and the most commonly used terms are three, six and twelve months, which reached historic levels of -0.605% on 14 December 20, 2021 , -0.554% and -0.518% on 20 December 2021, respectively.
The Euribor is set according to the average of the rates at which a group of 19 euro area banks are willing to lend money to each other in the interbank market.
In addition to mortgages, the Euribor is also used in other financial products, including some types of personal and commercial loans, as well as in derivatives and other complex financial instruments.
2024-09-10 18:49:41
#Euribor #continues #free #fall #deepens #annual #lows
