This is a mortgage discount.
He Euribor It stops falling and today, November 19, rises slightly to 2.448%. The monthly average after the new fall remains at 2.537%, so mortgaged You can continue to be congratulated with discounts on variable mortgage which in some cases can reach 3000 euros. The metric that guides most mortgages in Spain has undergone a 180-degree turnaround after some mortgage borrowers’ premiums rose to €600 two years ago.
Euribor price today, November 19.
The Euribor rate on Tuesday, November 19, will drop to 2.448%, and the average for the month will remain at 2.537%.
How much will my mortgage drop in November?
If so, then 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.
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 is located.”
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. “.