Euribor interest rate decreases
Euribor rate index is the main variable rate mortgages reference, which is calculated based on the internal loan bid prices of the major European banks.
The Euribor -reference for most Spanish mortgages- has fallen to an historic minimum mark to reach 0.677%.
Thus, this mortgage index retakes the downtrend that has been present the past couple of years, falling below the official price of money, set by the European Central Bank (ECB) at 0.75%.
The monthly average in the first two days of October was 0.681%. If the trend keeps that behavior, the average 20 years mortgage of 120,000 euros would experience a decrease of 81 euros per month (970 euros per year).