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Better liquidity in Europe, EURIBOR at new low, 2.25 per cent
24 January 2009 @ 11:42

The three months European Inter banking Offered Rate was fixed today at 2.25 per cent, down from yesterday's 2.31 and the lowest rate since October 28, 2005. The news, which means further relief for variable rate mortgage holders, since the three months rate is used as a benchmark by most banks in their variable rate, is a further consequence of the latest cut of interest rates by the European Central Bank. But at the same time it means that conditions are normal again from the point of view of the credit crunch experienced last autumn. Nowadays, as a matter of fact, the spread between base interest rate and the three months EURIBOR is just 0.25 per cent, while last October, at the highest point of the credit crunch, the spread over the base rate was 1.13 per cent.

 


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3 Comments


tim` said:
25 January 2009 @ 06:52

useful comment, do you know if banco analucia is an excepption in that they use the higher 12 month euribor rate?

why does the blog repeat?


RG said:
25 January 2009 @ 15:07

Don't think Banco Andalucia is an exception the two or three banks I have looked at also based their mortgages on the higher 12 month rate.


tuckswood8 said:
26 January 2009 @ 15:35

Unicaja say they use euribor 12 month, but actually use euribor 12 month average, which is considerably higher.


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