2024-10-25 20:16:00
Euribor collapses and loses 2.6% 4″ width=”1200″ height=”628″ srcset=”https://www.euribor.com.es/wp-content/uploads/cwv-webp-images/2024/01/euribor-hoy-23.jpg.webp” sizes=”(max-width: 1200px) 100vw, 1200px”/>
Hi, how are things? I’m fine, thanks for asking. This morning Iñigo Errejón came to the office Since he is very good friends with my boss (they went to Flowers for drinks many times, even though it was always my boss’s turn to pay), apparently he came because he has a little problem and is not very rich in money and he’s going to have to take out a mortgage for what he calls “his riding school” and well, they reviewed the options a bit and in the end he was left with a mixed mortgage because he says it’s “neither fixed nor variable, but in the middle” .
I was very excited to see him, so I went to tell the intern but she wasn’t there, apparently coinciding with Errejón’s arrival, she left quickly because she said that he had left the oven on at home. Who would think of turning on the oven in the morning with how much electricity costs?
And now let’s see how today’s Euribor is since today we have a new reader on the blog. Welcome, Inigo.
Remembered. intern, now give me today’s Euribor.
We end the week following the ECB meeting and do so losing the 2.6% level, which means we have new lows from more than two years ago. Specifically, The most used reference index in mortgages drops by 49 thousandths to 2.565%
As for The Euribor average for October 2024 temporarily remains at 2.718% This will mean a small drop compared to September (which closed at 2,936%) but a more than interesting cut for those who do an annual review (in October 2023 it was at 4,160%).
By how much will the monthly mortgage payments be reduced?
With a provisional average Euribor of 2.718%, a 150,000 euro mortgage with a duration of 25 years with a spread of 1% and semi-annual review, will go from the payment of 976.13 euros to the payment of 893.59 euros, which represents a monthly variation of -82.5 euros. If the review is annual, you will go from paying 1,015.92 euros to paying 893.59 euros, which represents a monthly variation of -122.3 euros.
Euribor values for the year 2024
| Mes | Monthly average | Monthly difference | Semester difference | Annual difference |
|---|---|---|---|---|
When will the ECB meet again?
At the last monetary policy meeting, held on September 12, the ECB decided to lower interest rates. The next meeting of the European Central Bank will be held on 18 December in Frankfurt and depending on current economic data (mainly inflation and growth in the eurozone) rates could be lowered again
The Euribor (the abbreviation of Euro Interbank Offered Rate) is the interest rate at which banks lend money to each other and the most used durations are three, six and twelve months, which has reached an all-time low of -0.605%. on December 14, 2021, -0.554% and -0.518% on December 20, 2021, respectively.
Euribor is set by the average of the rates at which a group of 19 eurozone banks are willing to lend money to each other on the interbank market.
In addition to mortgages, Euribor is also used in other financial products, including some types of personal and commercial loans, as well as in derivatives and other complex financial instruments.
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