falls to 2.416% amid ECB rate cut

He Airibor rushes. Today, November 25, it drops to 2.416% and pushes the average to 2.521%. This data opens the door to great things sales under renovation mortgage this month. According to experts, this is due to the fact that the market is not taking its eyes off a possible change in rates that is brewing in the market. European Central Bank for your next meeting. Last week, one day of lime and another of sand remained for the laid days. The last week of the month begins with the door opening for a discount of 3,000 euros per year in some cases.

How far will Euribor fall?

Ebury chief risk officer Enrique Díaz-Álvarez already warned last week that Euribor rates should continue their gradual decline to 2% unless there are significant positive surprises in both inflation and economic growth.

We’ll have to pay close attention to the annual inflation report in the coming days. “Unless we see significant downside surprises, the ECB will find it difficult to justify rates significantly below 2%, which should stabilize the Euribor level,” they explain.

Euribor price today, November 25

The Euribor rate this Monday, November 25, will drop to 2.489%, and the average for the month will remain at 2.521%.

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.

How to save up to 2000 euros on your mortgage

Perhaps this will encourage those mortgage holders who were thinking about changing their mortgage but put it off due to the fall in the Euribor rate. We should all remember the date December 31st. Next New Year’s Eve will be the last day that 4 million families with variable rate mortgages will have to change the terms of their loans from a risk-free fixed or blended rate to an additional cost of up to €2,000 next time. year.