The Euribor in daily rate closes the week at 3.701 percent. It resumes the increases, exactly 17 thousandths, with respect to its last value.
Except today’s data, The first week of June stands out for a falling Euribor. Only on Monday it remained at 3.722 percent and on Tuesday it fell to 3.715 percent.
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On Wednesday it fell below the 3.7 percent barrier to 3.69 percent.
On Thursday, the day the ECB held its meeting to lower rates, it reached 3.684 percent and, together with today’s data, the average for June is around 3.7 percent.
The Euribor for May: relief for the mortgaged
The average is still above that of May, when the Euribor ended the month at 3.68 percent.
With this figure, the indicator recorded its third monthly drop since the beginning of 2024 but, above all, it experienced its second decline in the interannual rate so far this year, after two years of consecutive increases.
As a consequence, those who review their variable mortgage annually and do so in June, will benefit from a drop in their payment, although slight: they will only pay 15.35 euros less per month (184.20 euros less per year) for an average mortgage in Spain, which represents a drop of 1.83 percent.
The good news continues for another month for those who review their mortgage semiannually (although lighter than other months). In your case, the fee will be reduced by 22.39 euros per month (134.34 euros per semester) for an average loan, which represents a reduction of 2.62 percent.
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During May, the Euribor has experienced a similar evolution to that of April: with initial falls, which have turned into increases towards the end of the month, to face the final stretch with new falls.
Behind this volatility is uncertainty about the direction the ECB will take after the rate cut at yesterday’s meeting.
In the medium term, Kelisto’s forecasts place the indicator, with due caution, at around 3.6 percent at the end of the first semester, to gradually decrease until closing 2024 at around 3 percent.
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The forecast for the Euribor for 2024 made by other entities and organizations places the Euribor in a range that ranges from 2.6 to 3.25 percent for the end of 2024.
Bankinter and Funcas are the ones that forecast higher figures for the end of the year (3.25 and 3.2 percent, respectively), while Caixabank places the Euribor at 2.78 percent and Asufin at 2.6 percent. .
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