cam bank mortgage rates euribor & cajas

i have been with the cam since 2006,and i have a mortgage with them ,it has always been calculated with the euribor rate.my rate changed  this month and i thought my new rate did not come down enough so i went to the bank and the women their said i was on the cajas rate which she said is dearer but more stable ,i said i was not happy with this and have made a appointment to see the manager on tuesday as i want the cheaper rate,i have looked on the internet but cant find any rates for the cajas,can anyone give me any advice on this situation please...thankyou

The Caja rate will be the rate at which you accepted your mortgage, which will always be a percentage above the Euribor rate.

Each Caja rate differs depending on which mortgage deal you go for.

We pay Euribor + 1% based on a six monthly revue, and this is with CAM.

as i said in my post,i have always been on the euribor rate and as you state its +1%,but this year they have changed to cajas rate .i have checked the euribor history and each year my interest rate has always been 1% above the euribor rate ,..if their are different cajas rates where on the internet can i check them

There are no 'set' rates for Caja, as each deal is different, however most charge between 1% and 1.75% dependant on the deal.

However don't forget that most banks go back two months in order to pick up the 'average' monthly Euribor rate, and this includes CAM. The average monthly Euribor rate two months ago would have been based on March and this was 1.775 for the six month rate and 1.909 for the 12 Month rate.

So your monthly rate should now be, if you're one + 1% as you say, either 2.775 or 2.909.

My mortgage is also with CAM. I took this out in June 2008. I pay 1.1% above Euribor. This was reviewed after 6 months then annually thereafter.

My first review was December 2008 and they used the Euribor rate from 2 months before (October).

My next review is Dec 2009 and my rate will be 1.1% over whatever Euribor is in October 2009. For details of Euribor see the last column on this link.

http://www.bde.es/clientebanca/tipo/referencia/temas/tipos.htm