Euribor today breaks a series of increases and falls to 2.489%.
He Euribor today, November 21st. The trend is changing again, and this time the joy for the participants is double. mortgaged. This Friday the indicator that guides most mortgages in Spain falls up to 2.489% and monthly average November remains at 2.527%. Both indicators open the door to discounts on reviews belonging mortgage According to experts, in some cases up to 3,000 euros.
Euribor price today, November 21
Euribor this Friday, November 21, will fall to 2.489%, and the average for the month will remain at 2.527%.
Discounts for mortgage review in November
Using this data, savings on mortgage payments will continue to decline. In October, a discount was already noticed, which in some cases amounted to around 2,600 euros per year. This was the month when mortgage holders updated the current index, comparing it with the highest ever Euribor ceiling of 4.16%. Now in November the comparison when calculating savings on mortgage payments is also made with a high figure: 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.
Be careful if you want to change your mortgage.
new Euribor rate reduction This reassures many mortgage holders, who saw their payments increase in some cases by more than 600 euros a month a year ago. 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 believe 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.”
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. “.