Heels|The most common reference interest rate for mortgages has decreased by almost 1.4 percentage points in a year.
A year On Tuesday, the euribor rate fell sharply again to only 2.848 percent.
The interest rate has fallen rapidly in September. At the turn of August and September, the 12-month Euribor was still quoted at 3.088.
On Monday, the interest rate was 2.902 percent.
Just a year ago, euribor was at its highest level of this cycle, i.e. at over 4.2 percent. The interest rate has thus decreased by almost 1.4 percentage points per year.
A year euribor is the most common reference interest rate for mortgages. In addition to the interest rate, customers pay the bank a margin agreed on a customer-specific basis.
The interest rate on a loan tied to one year’s Euribor changes every year. The interest rate drop will therefore only affect the interest costs of the loan when the interest rate review date arrives.
A percentage change in the interest rate of, for example, a 200,000-euro loan means a saving of 2,000 euros in interest costs per year.
Nordic chief analyst by Jan von Gerich according to the data of the purchasing managers’ index of the euro area, which was announced yesterday, is behind the interest rate drop. Von Gerich shared his views on the messaging service X.
The purchasing managers’ index showed that the outlook for industry in Europe has weakened. This, in turn, increases expectations of the European Central Bank’s interest rate cut.
The table below shows the interest rate quotes until Monday. Fresh figures will be updated during the afternoon.
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