That the Euribor is – to the joy of so many mortgage lenders – in free fall is something we have been seeing for weeks, but this Monday marked an important milestone and it is located by below 3%, something we haven’t seen since no less than December 16, 2022.
The most used indicator in Spain calculate mortgages It’s this Monday at 2.986% in its daily rate, just three days before the outcome of the European Central Bank (ECB) meeting on Thursday, when interest rates are expected to be cut by 25 basis points, is known.
Compared to last Friday, September 6, the index fell by 39 thousandths, after that day it fell to 3.025%. As for the average of the month of the Euribor of September 2024 remains at 3.057%although the forecasts They emphasize that will end the month in the eapproximately 3.006%, which will mean a slight decrease compared to August, which closed at 3.166%.
A year agoIn September 2023, the Euribor was at 4.149%. In August, the Euribor fell to 3.166%, its fifth consecutive decline and its lowest level since December 2022. The index has started a downward trajectory since last March (3.718%), encouraged by expectations of lower interest rates in Europe, which the European Central Bank (ECB) committed to a 25 basis point reduction in June.
The ECB is expected to maintain the trend of interest rate cuts September 12. After the decline in March, the indicator fell to 3.703% in April; to 3.68% in May; to 3.65% in June; to 3.526% in July; already to 3.166% in August.
