Euribor closes March at 1.5%

According to Invertia.com, the Euribor, the main indicator to which mortgages in Spain are referenced to, is expected to close in the month of March at 1.5%, and alleviate the average monthly mortgage by more than 25 euros, representing an average saving of more than 300 per year.

In the absence of one working day to the end of March, the provisional monthly rate Euribor is more than 0.4 points below the level recorded a year earlier. This is the second consecutive month Euribor becomes a relief in the pocket of those who have a mortgage.

The indicator has set a daily rate of 1.420%, a cut of about six thousandths of yesterday´s rate and a decrease of 0.179 points since the month opened at 1.599%, which makes clear the downward trend it describes.

Thus, for a mortgage of 120,000 euros for a term of 25 years and an interest rate of Euribor plus 1%, the user of a mortgage that will have a revision now will now benefit from a cheaper monthly payment of at least 25 euros.

According to experts consulted by Europa Press, the indicator will maintain its downward trend during the remainder of the year, a pattern that describes a similar pattern to the number of new mortgages.

• By Surestates
• Marbella and Costa del Sol Property News.
• 30 Nov -0001