Euribor price today, June 10, 2024: this is how the week begins.

Euribor, whose abbreviation is “Euro Interbank Offered Rate”, This is the interest rate that is applied between financial institutions when short-term loans are made between them. offer to third parties.

This figure, calculated by the European Central Bank (ECB), becomes Many banks’ benchmark for variable rate mortgages.

Therefore, the cost of these loans is very important because if the Euribor rate rises because banks charge higher interest rates to other banks for lending them money, mortgages will become more expensive. On the other hand, if this figure falls, mortgages will become cheaper.

Anyone with a variable mortgage has suffered in recent months. Euribor never stopped growing, and therefore his monthly fee too. In October it reached its highest level since 2008, when it reached 4.16%..

Lagarde, with a decision to reduce interest ratesbreaks the upward trend in official interest rates that began in July 2022 and opens the door to significant improvement in the economy and mortgage sector.

However, for this improvement to be noticed, the director of the mortgage comparator and consultant iAhorro, Simone Colombelli, assures that “there should be further cuts in official rates” because “whatever changes may occur after today’s announcement, if any, will be very minor.” Colombelli explains this by saying that “the banks were already ahead of the ECB and cut interest rates on their products a few months ago.”

Euribor price today

Euribor today rose to 3.725% from 3.701% yesterday. This leaves the June average at 3.702%.