in free fall it drops to 3.58%

He Euribor today short. This is very good news for mortgaged who checks theirs mortgage this month is June. The indicator data referred to by the majority of mortgages in Spain this Monday the 24th marks a monthly low, remaining at 3.58%. The average also falls to 3.66%, further separating it from 4% a year ago and helping decline V mortgage what needs to be updated is even greater. In particular, up to more than 600 euros in some cases and more than 300 in others.

How much will mortgages fall in June?

Thus Euribor trend This seems to indicate that it will remain below 4% compared to last year. This will mean savings on mortgage payments, which can reach 600 euros per year. We are still a long way from recouping the €600 per month increase for some mortgage holders who had to renew two years ago with the March figure, but it looks like this is the first step for everyone. mortgaged And not only those who renew their subscription every six months will be happy.

According to iAhorro’s calculations, those who are mortgaged with variable rate mortgage And annual report They will see a reduction in monthly payments of 25-50 euros.

For example, in a mortgage of €150,000 for 30 years with Euribor + 0.99%, concluded last year, we see that Monthly payment It will be reduced by 26.63 euros: instead of a monthly payment of 804.96 euros, you will pay 778.33 euros. This represents annual mortgage savings of €319.52.

If the initial mortgage amount is EUR 300,000, saving It would also be higher: up to 53.25 euros less every month. That is, if you paid a monthly fee of €1,609.91, you would pay €1,556.66 with this review. Thus, the annual savings on the mortgage in this case will be 639.04 euros.

How will the Euribor rate change in June?

According to the comparator they estimate that Euribor “it is possible that close the month about 3.7%. The silver lining is that it was 4.007% a year ago, so people who are checking out their mortgages will see their payments go down.” this means there will be a decrease compared to last year, “which benefit the pledged They renegotiate their loan annually because they will see a slight reduction in their monthly payments. With interest rates cut by a quarter point, Euribor could approach 3% before the end of the year.”

How to recover mortgage costs

At the moment the way keep mortgage money to see if we can claim expenses Registration at the bank. The home must have been purchased before 2019 and the mortgage may be current, paid off or canceled. The deadline has not yet expired, as the Court of Justice of the European Union (CJEU) ruled in April, and according to relamador.es, the average amount that can be recovered for mortgage processing costs is 1,300 euros. , excluding tax on documented legal acts.

To do this, the first thing you need to do is collect all bills corresponding to the expenses paid when concluding a mortgage agreement and requesting a refund from the bank to receive the amount. Step by step, the first step is to collect the necessary documentation:

What is Euribor and how is it calculated?

Euribor is an abbreviation for the European Interbank Offered Rate, as 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.

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, the Bank of Spain and the Bank of England collect information, update it and publish it daily.