In the absence of only 5 days until the end of the year, we can already predict the average of the Euribor for December to almost one thousandth. After the small increase on Thursday (that the intern did not come to the office and could not give you the value) when he added one thousandth in his daily rate to -0.494%, we could venture to say that will close the month with an average of -0.496% staying in this way to only four thousandths of -0.5%.
The twelve-month Euribor marked its historic low on December 9 when it fell to -0.507%, an unthinkable value since it is below what the ECB charges banks for depositing money. Since then it has experienced a small uptrend to its current values where it will remain stable for a while.
Therefore, the decrease in the Euribor in December 2020 compared to a year ago (-0.261%) is no less than 233 thousandths, which will mean a significant reduction for those who have to review their mortgage. In this way, those with a € 100,000 mortgage will see their monthly payment reduced by € 10, those with a € 150,000 mortgage around € 15 and those with a € 250,000 mortgage will see a reduction of € 25.
To this many mortgages could add, if they hurry, the return of mortgage expenses that amount, on average, to about € 1,200.
However, we could already be very close to the Euribor lows since the improvements in the forecast of the pandemic, thanks mainly to the effectiveness of the vaccine, could cause a withdrawal of stimuli from central banks and thereby cause a rise real types.
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