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EURIBOR

News on the Euribor

The Euribor is placed in the 2209% and becoming closer to the official price of money
08 February 2009 @ 10:24

The Euribor is still down for the joy of the mortgage. Yesterday, a day after the European Central Bank (ECB) decided to keep interest rates at 2%, but fell in the daily rate up to 2209%. Continue, it is possible that at the end of the month has been matched with the official price of money in the euro zone, analysts were expecting something to happen by mid-year.

After five days of trading, the monthly indicator which are referenced by the majority of mortgages granted in Spain and is positioned in the 2235%. The monthly average is to be taken into account when reviewing the loan.

Closing the month around 2%, down from 2.6% in January, half a mortgage of 150,000 euros to a repayment term of 25 years and a spread of 0.50 points over the Euribor was cheaper by about 200 per month, which would mean a saving of 2,400 euros a year.

Mortgage rates started to fall on October 10, two days after the world's major central banks decide in unison, reduce interest rates to the worrying situation of the financial system.

The Euribor has maintained since its downward trend, which has been strengthened thanks to the successive decreases in the price of money applied by the European Central Bank (ECB), the latest being in January, and the measures put in initiated by the countries of the European Union (EU) to increase the liquidity of banks.

The Spanish Mortgage Association (AHE), which represents banks and savings banks, estimates that the financial burden of Spanish families mortgaged fall this year at least 20% over 2008 supported by the decrease due to the Euribor.



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