good news for those mortgages
Euribor today, June 13, 2024, falls and leaves the average monthly value of the indicator close to monthly minimums. mortgaged who update their mortgage This month they expect the company to follow in May’s footsteps and end up paying less for its services. mortgage. The monthly average is now 3.7 after today’s drop.
The good news is that this indicator number, which is where most of the mortgage In Spain, this figure is compared with the figure a year ago, when the Euribor reached its maximum: 4.007%. This means that at the moment mortgage prices will fallbut given the current trend, we’ll have to wait until June to find out whether the cut will remain a pocket change, or whether mortgagees will notice it in their savings.
Euribor today
He Euribor started the year with 3.609%, and at the moment mortgaged who had to extend their mortgage They had one lime and one sand. The indicator, which is the benchmark for most mortgages in Spain, closed the month at an average of 3.671%, slightly higher than the January value.
IN MarchEuribor recorded its second consecutive monthly gain and closed the month at 3.718%, its highest level since November. IN April, the indicator did not show a clear trend, registering increases and decreases, but ultimately closed the month at 3.703%, representing a slight decline compared to the previous month. It was also down slightly from the same month in 2023, giving many mortgagees some breathing room. IN Maybe A new breath has arrived.
For those who renewed with the information of the fifth month of the year and who have an average adjustable rate mortgage on an annual basis, the fee will be reduced by several 15 euros per month or 180 euros per year for a mortgage of 150,000 euros and 30 euros per month or 360 euros per year for a mortgage of 300,000 euros. In the semi-annual reviews, according to iAhorro’s calculations, with an average mortgage of 150,000 euros, the reduction reaches 28.61 euros per month (171 euros per semester). If it is 300,000 euros, the savings reach 343 euros (-57 euros per month). Come June, all those savings numbers could skyrocket.
Evolution of the annual Euribor
What is Euribor?
Euribor is an acronym for the European Interbank Offered Rate, as it is defined in English. European interbank offered rate. That is, we are talking about the amount that one European bank charges another for providing a loan.
How is Euribor calculated?
Belonging Euribor calculation It is managed by the European Money Market Institute (EMMI). To do this, it uses a “panel of banks” consisting of 19 different banks, which each day at 10:45 am report the interest rate at which they are willing to lend money to other eurozone banks. Using this data and excluding the highest 15% and lowest 15%, an average is calculated. The result, rounded to three decimal places, is published at 11:00. In Spain Bank of Spain and the Bank of England collect information, update it and publish it daily.
June’s Best Fixed Mortgages: Below 3%
Pending the path that Euribor will take now following the ECB’s decision, supply in the fixed-rate mortgage market, according to comparator iAhorro, shows that more and more banks are choosing to increase interest rates on their fixed-rate loans.
One of the best fixed mortgages on the market Sabadell. It offers a flat IRA of 2.60% and an APR of 3.76%. Thus, if a user signs a mortgage of €200,000 for 30 years, he will pay a fee of around €800. In return, you will need to register your salary or pension, as well as home, life and benefits insurance.
Openbank This is another entity to consider. He sells a fixed mortgage with an IRA of 2.76% and an APR of 3.30%. Following the previous example, in this case the future owner will have to assume a monthly payment of approximately 817 euros. And all this is provided that the salary lives and two insurance policies are purchased (life and home).
We must not forget Santander fixed mortgage. It consists of an IRA of 2.85% and an APR of 3.47%, which equates to a monthly payment of approximately €827 when signing a 30-year mortgage of €200,000. However, this organization requires more requirements: direct deduction of wages, pensions or payments to the self-employed; use a credit card up to six times; take out four insurance policies (home, life, accident and disability); rent a security system from Movistar Prosegur Alarmas and have a home with an A+, A or B energy efficiency certificate.