Mortgages cheaper by an average of € 85 in Spain

Mortgages cheaper by an average of € 85 in Spain

The euríbor is the main reference index of mortgage loans in Spain. In January it is expected to close at
the level of -0.09%. This means a new lowest record and will reduce the average mortgage of around € 85 a year.

In the absence of a trading day, January closing is down almost two tenths compared to the level of the same month of 2016, when the index was at 0.08%.

The indicator – which fixes the value at which European banks lend money to 12 months – already chained a year in a row in negative. Taking into account an average loan of about 120,000 euros over a 25-year in term of renewing their mortgage with
the January data they
will pay seven euros less than in the same month of the previous year. If the full year is taken as a reference, they will reduce by almost 85 euros on average.

The fact that the indicator has already spent a year in the negative favors the interests of people with mortgage loans at variable rates referenced to this indicator.

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