EURIBOR TODAY | Euribor price today, June 3, 2024: a new blow to mortgage loans

Euribor is the name given to one of many indices fundamental importance in the European financial panorama. Its calculation is based on interest rates which has 18 of the most important banks in Eurozone They are willing to lend money to each other. This indicator is updated daily and is used as a guide to determine interest rates over a wide range financial productssuch as mortgages, business loans and investment products.

Since the beginning of 2024, its average value is 3.675%noting decrease -0.347 points compared to 2023 average (4.022%): 3.605% in January, 3.671% in February, 3.718% in March,

3703% in April and 3680% in May.

Today’s index June 3 remains in 3.722% (+0.011), while the average for June is at 3.722% (+0.042), and the only forecast for this fifth month of the year is at 3.722%. It is worth remembering that in this sixth month of the year there is a new European Central Bank meeting after which a significant reduction in the price of money may be announced.

ECB and interest rates

On April 11, the governing council of the European Central Bank (ECB) decided to keep eurozone interest rates unchanged at 4.5%, as expected. But at the same time it gave take a step further for approval in June first cut money prices since the inflationary spiral erupted in mid-2021.

The institution included a reference to rate cuts in the statement it publishes after each monetary policy board meeting, the document it uses to express its official position to the market and the public.

ECB President Christine Lagarde once again noted at a press conference after, as in March, the meeting June 6 as the most likely date for the first rate cut since September 2019.

Waiting to fall

Given this date on the economic calendar, many experts predict that the European body could decide to cut rates by “around 25 basis points.” until it leaves them at 4.25%”, as stated, for example, by Simone Colombelli, director of mortgages at mortgage comparator and consultant at iAhorro.

The mortgaged held their breath. If the expected rate cut is not announced on June 6, the next ECB meeting will take place on July 18.

A representative from iAhorro believes that “if the ECB announces several cuts in the second half of the year, we could even end 2024 the Euribor rate is 3% and interest rates are around 3.75%.”