Farewell to falling Euribor: it has been rising for three days
Euribor gives turn 180 degrees and say goodbye to continuous descents. This Thursday, November 21 increases for the third day in a row and amounts to 2.491%. This is a change trend this shouldn’t be a concern at this point mortgaged because the average value of the month, the data used to calculate how much share belonging mortgage V revisionremains at 2.5%. When this data appears on the horizon, discounts will appear on mortgaged in some cases around 3000 euros per year. And experts continue to open the door to future cuts: “Euribor will continue to fall.”
Euribor price today, November 21
The Euribor rate this Wednesday, November 21, will increase to 2.491%, and the average for the month will remain at 2.5%.
How much will my mortgage drop in November?
In the month of October discount in some cases this amounted to around 2,600 euros per year. This was the month in which mortgaged They updated by comparing the current index to the highest ever Euribor ceiling of 4.16%. Now, in November, comparison at the moment calculate savings V mortgage payments This is also done at a high rate: 4%. This leads to savings. According to iAhorro’s calculations, with 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.
The deadline for changing a mortgage without paying fees has expired
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 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.”
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. “.