Euribor falls again today and falls to 2.47%, its lowest level in a year.

He Euribor is collapsing Today, November 18, is an indication that most mortgage in Spain it drops to 2.432%. This figure is the lowest for the year and raises the average to 2.545%. These records are made by some mortgaged In some cases they may have annual discounts of up to €3,000. And it looks like the trend will continue to decline, leading to more discounts on mortgage renewals.

Euribor today, November 18th.

The Euribor rate this Monday, November 18, will drop to 2.432%, and the average for the month will remain at 2.545%.

How much will mortgages fall in November?

It’s November now comparison When calculating savings on mortgage payments that are being renegotiated, they are calculated using the second-highest Euribor value: 4%. This leads to savings. According to iAhorro’s calculations for a 30-year variable mortgage with Euribor and a differential of 0.99%, the savings will reach 1,500 euros if the mortgage is 150,000 euros, and 3,000 if it is 300,000 euros.

You’ll pay less if you renew your mortgage in December

According to experts, Euribor will continue to fall and December can reach 2.5%, the savings for those who extend this last month of the year will remain at 2,300 euros in the first case and 1,199 euros in the second case of a mortgage of 150,000 euros. This figure is lower, although the difference cited by most mortgages in Spain is lower because October this month is the month that mortgage holders suffered the most a year ago, when they faced an extension with the highest Euribor rate. Now there will be more relief.

The deadline for changing a mortgage without paying fees has expired

The new Euribor cut is reassuring to many mortgage holders who a year ago saw their payments increase in some cases by more than 600 euros a month. But they shouldn’t do this if they’re planning to change their mortgage and want to continue without paying fees. The deadline for the payments to begin is just around the corner as the deadline set by the government for this ends on December 31, 2024.

Experts predict that Euribor will continue to fall

We’ll have to wait to see how it arrives. Euribor at the end of the year. There are many mortgage holders coming up whose payments will be reduced at their annual renewal. This year 2024 has started a path of decline and although it is still far from solving the economy of families who recently had to face a monthly increase of up to 600 euros, it is gradually weakening savings.

In this regard, Sergio Carbajal, head of mortgage lending at Rastreator, notes that the Euribor rate has been falling for 13 months, but previously it rose for 22 months, and “always after a noticeable increase there is a movement of correction and adjustment, which is where it is now Euribor is located.”

For his part, Enrique Diaz-Alvarez, chief risk officer at Ebury, explains that Euribor continues to fall sharply as markets anticipate more cuts from the European Central Bank (ECB). ” inflation data in the eurozone fell below 2% in September for the first time since the beginning of 2021. Although the core index – the more significant one – stands at 2.7%, the deflationary trend is undeniable and will provide cover for more monetary easing. “.