The Euribor falls one more day. This December 4, 2024, it falls to 2.348% one week before the decisive meeting of the European Central Bank (ECB) with the drop in the interest rates on the table. The indicator to which many of the mortgages signed in Spain refer gives new joy to those mortgaged and heads towards that 2% in which many experts believe the year may end.
In this sense, Ebury’s Risk Director, Enrique Díaz-Álvarez, already warned last week that Euribor rates should continue their gentle decline towards 2%. And the Euribor is walking that route at least this month of December.
From iAhorro, its spokesperson Laura Martínez assures that “this year the trend change in variable mortgages and finally citizens with this type of loans will be able to breathe a little easier.
Of course, “starting next year we will continue to expect reductions in the installments, but they will no longer be as great as those we have experienced these last two months, since we came from a very high Euribor and we are one and a half points below what was marked only 12 months ago”.
Mortgage war with the fixed as the leader
He decrease in the Euribor It only fuels the war in mortgage supply. So much so that mortgage holders are surprised by the 180 degree turn they notice in the star mortgage. If for years requesting a variable mortgage was the most common, now the fixed one is gaining ground.
In fact, according to experts, it is time, if you want change mortgagesubrogate to one with a fixed interest rate. “Fixed mortgages continue to become cheaper (-14.31% compared to last year) and there are now 14 entities with offers below 3% NIR for a term of 25 years,” they explain from Kelisto.
Given this, and that the Euribor does not stop falling, there will be new offers and thus mortgaged They are guaranteed to get off that roller coaster in which the Euribor had risen, with increases in some monthly installments of up to 600 euros two years ago.
This leads us to remember that if we want change the mortgage It’s time. Next New Year’s Eve will be the last day on which the 4 million families mortgaged with a variable interest rate in Spain will have to change the conditions of their loans and go from a risk-free fixed or mixed rate to extra costs of up to 2,000 euros next year.
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