He Euribor is already in 2.545%. It’s been two years since the mortgaged They don’t see a figure like that, after unexpected increases in mortgage payments of up to 600 euros per month, compared to the annual discounts on mortgages expected for the mortgages that renew in November for 3,000 euros in some cases. This 180 degree turn The indicator to which most mortgages in Spain refer comes after the first rate cuts by the European Central Bank. And according to experts it will continue to decline.
The month of July this year is a turning point in the future of the euribor. The lowering of rates from the European Central Bank encouraged the indicator to which most mortgages in Spain refer to go down and according to the experts It will continue to do so, with Donald Tump’s victory in the United States included.
Will the Euribor continue to fall?
Sergio Carbajal, head of mortgages at the comparator Trackerassures that “everything points to interest rates falling in response to possible trade tariffs by the US in order to mitigate external pressure to a certain extent. The lowering of the Euribor by the ECB is the fastest measure that can be faced from Europe and although we will have to see how everything evolves when the mandate officially starts, the forecast that is seen is said decrease in order to somehow stimulate the economy in the eurozone. For the moment, it is expected that the month. of November closed with a small drop compared to the month of October”.
From Eburya global fintech specialized in international payments and currency exchange, warn that Euribor rates should continue their gentle decline towards 2%, unless there are significant positive surprises in both inflation and growth.
Its Risk Director, Enrique Díaz-Álvarez, explains that “short-term interest rates in the eurozone have resumed their downward trend after Trump’s victory. The prospects of a protectionist trade policy and tariffs targeting European industrial exports, particularly those from Germany, as well as the possible disengagement of the US from European defense concerns add to the general sense of pessimism about the European economy. and they will put even more pressure on the ECB to cut rates in the coming months.
How much will my mortgage go down in November?
If so, the savings in mortgage payments will continue to go down. In the month of October, a discount was already noticed that was around 2,600 euros per year in some cases. It was the month in which mortgage holders renewed, comparing the current index with the highest in the history of the Euribor, the ceiling of 4.16%. now in November The comparison when calculating the savings in mortgage payments is also made with a high index: 4%. This translates into savings. According to the calculations of iSavings For a 30-year variable mortgage with Euribor and a spread of 0.99%, the savings would reach 1,500 euros if the mortgage amounts to 150,000 euros and 3,000 if it is 300,000 euros.
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