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March 3, 2014

Euribor index declines in February 2014

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The European interbank offered rate on interbank loans (Euribor ) fell again in February 2014 to 0.549 % in value , and that will make lower the payments on mortgage loans issued in euros.

Good news for all holders of mortgages in Spain. The main index, on which are oriented the Spanish banks and financial institutions in the issuance of mortgage loans to citizens, fell in February 2014 after it was recorded an increase in January 2014. Thus, the annual repayments on a mortgage of 150,000 euros issued for 25 years, will be reduced by 35 euros, and a mortgage payment of 300,000 euros – will be reduced by 72 euros in annual scale.

At the end of February 2014 Euribor index, according to official figures, equals 0.549 % , which means that the figure fell from 0.562 %, registered in January 2014 . It is worth noting that in January 2014 was the first recorded increase in Euribor index over the past 15 months, during which interbank rate on loans declined steadily.

According to experts, the index Euribor began its downward trend in November 2012 , and thereby reducing the amount of monthly payments on mortgages.

February's decrease in Euribor affect the amount of mortgage payments in March 2014, when will be revised the interest on previously issued mortgages.

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