The Euribor, the index of most variable rate mortgages in Spain, exceeded 4% a few months ago and now Close almost at 3% (3,180%). It is the biggest monthly reduction in 15 yearsgood news for those who have only experienced increases in these years.
In fact, it will mean a drop of up to €900 per year in the payment of the variable loans. The index could be reduced by half a point at the end of this year, reaching around 3.2%. To find a similar drop in one month to this predicted figure, we would have to go back to the year 2009.
For those with variable mortgages, September is much less steep. We measure it in an average mortgage of approx 150.000 euros. If your annual review is due in September, your monthly payment will go down considerably 75 u 80 euros. Although there is bad news for those who have mortgage review this summerbecause to enjoy this downward trend you will have to wait almost a year.
And for those looking to get a new mortgage, new opportunities are emerging as the banks have begun the offensive. And there is a significant change in the situation where the Association of Financial Users (Asufín) recommends two products: the mixed one or the new fixed one. To get a variable mortgage, it is better to wait because the Euribor is still high.
Antonio Luis Gallardo, who is responsible for the Asufin Stadium, told laSexta Noticias “The mixed ones are very competitive, but if we find good fixed onesabout 2.5% interest points or even lower, they are mortgages for the future.”
this index, between 2022 and 2023rose almost 3 points, and in the past year it will be reduced to less than half. “It does not compensate for everything raised from 2022,” said the director of Asufin Studies. However, the good news that continues here depends on the European Central Bank continue to lower interest rates.
