Mortgage Rates

Hi All,

I believe the 'LIBOR' rate has fallen greatly over the last 12 months, and I was expecting to hear from my bank (CajaMurcia) about a reduction in the mortgage interest rate, but so far, no word.

Has anyone heard from their bank?   Can we expect to be paying a little less ?

Best Wishes,

Al

Mar y Sol bungalows, Ave.Com.Valenciana

Hi, my rate is reviewed every six months. It went down about 100 euros in  feb. Which was realy good news. They are usually reviewed evry 6 to 12 months I think.

Vanessa

I telephoned CajaMurcia in May.

Yes, the Libor / Euribor rate has gone down significantly in the last 12 months.

Yes, my mortgage rate will go down significantly.

.... commencing June 2nd.

Can you guess which day of the month my mortgage is paid?

Still, it's nearly July.

I just love this country

We are with Caja Murcia as well.  We popped in to see them when we were over in May and they told us we would know if the mortgage rate was going down on the 1st of June.  We duly went to the bank on the 1st of June and they told us it would be the 1st of July that our rate would change but did not know by how much!   Apparently it is based on the rate of the Euribor as at the 1st of April plus 1% - confused you will be!  We live in hope!