The Euribor, the main indicator to which mortgages are referenced in Spain, has dropped its daily rate by five thousandths, strenghthening its downward trend and giving hope to those whose mortgages are coming up for review that their monthly mortgage payments could begin to decrease.The daily indicator stood at 1.664% on Friday and is 0.338 % down since 19th December, when it last saw an increase up to 2.002%.
El Mundo reported that with only a week and a half till the close of February, the Euribor is likely to stay at a monthly rate of 1.704%, which represents a drop of ten hundredths from the level marked by the indicator a year ago.
The expectation of better liquidity facilities from the European Central Bank (ECB) is gradually easing tensions in the European interbanking market and is encouraging financial institutions to lend money.
No comments:
Post a Comment