Surprise in the Euribor data for this Friday, January 3, 2025. The first week of the year closes with the same data as yesterday, 2.448%, so the provisional monthly average for January remains at 2.448%. In this way, it is confirmed that the monthly rate rises slightly compared to December 2024 when the data closed at 2.433%. However, all mortgage holders who renew their credit With the data for this first month of 2025 they can celebrate since the discount on their installments will reach an average of 1,100 euros per year in some cases since last year the data was higher. All those who have a signed variable mortgage of 150,000 euros for 30 years with Euribor plus a differential of 0.99% will have a fee that will drop to around 100 euros, which will help recover from the large increase in 2023 that many mortgage holders are still paying.
The Euribor thus guarantees a new reduction in the mortgage payment. Because? Because these annual renewals are compared to the 3.609% that it marked a year ago in January 2024. Even so, mortgage holders who continue to think that they pay more for their mortgage than four years ago are absolutely right.
The mortgaged person continues to pay more installments than in 2020
In the personal fight of mortgaged and their effort to pay the mortgage every month, in 2020, continuing with the same example, an approximate fee of 449 euros was paid. As of today, if it has been renewed with the December data, that fee has remained at 665 euros, which still represents a charge against the mortgagee of 206 euros compared to four years ago. Gone is 2022 in which the fee rose to almost 300 euros per month and then approached 800 euros per month in 2023.
These are two years of nightmare for the mortgaged who are left behind with a Euribor that has been indicating the path to the European Central Bank since the summer months and was at its last meeting on December 12, with the announcement of the reduction in rates of interest of a quarter of a point, when the Euribor has put on the brakes.
How much does the mortgage go down in December
But for now it’s time to celebrate the discount on mortgage reviews. They will be around 100 euros compared to this mortgage of 150,000 euros. Specifically, they are 94.21 euros per month and 1,130 euros per year, according to calculations by the mortgage comparator iAhorro. If the mortgage loan amounts to 300,000 euros, the monthly figure rises to 188 euros and 2,261 per year.
What will happen to the Euribor in 2025?
And what will happen to the Euribor in 2025? Mortgaged people do not take their eyes off an indicator that, if it continues like this, will bring new reductions. We are now entering months in which it is once again compared with figures that are around 3.7% and that will mean new relief for those mortgaged. If it continues to decline, as experts expect, the discounts will once again exceed those 1,000 euros per year in many cases.
The ECB’s latest interest rate cut will also encourage banks to seek new mortgage offerswhich will encourage the change of mortgage in search of better mortgages as there are new buyers fleeing high rental prices.
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