The fall of the Euribor mortgage lower EUR 145
Thursday, January 29, 2009 @ 8:06 PM
The index closed 2.6% in January after four consecutive months of declines and is the highest November 2005
The Euribor, which marked today its lowest intraday rate since September 30, 2005, at 2294 percent, closed in January by 2.6 percent after four consecutive months of chaining downs. Thus, half a mortgage of 150,000 euros a year ago signed a term of 25 years will experience a decline of about 1,700 euros per year, ie 145 euros per month.
Failing to complete a session in January, the indicator has lost most of this month and a half and is the highest November 2005, when it was closed in 2684.
Since October 10, when it began its downward streak, the amount Euribor and 77 consecutive days of declines and has been cut by half since that day stood at 5489 percent.
According to analysts consulted by Reuters rates continue to decline in coming months to 1.5 or 2 percent, if the European Central Bank (ECB) will continue its policy of cutting rates in the Eurozone .
The ECB president, Jean-Claude Trichet, said in January that March would be a further cut in interest rates in the euro zone, currently at 2 percent.
According to experts, the market has already "discounted" the cuts, but the Euribor will continue to reduce the distance that separates it from the ECB's interest rate.