The Euribor closed the month of April at 3.703%, which represents the first reduction in this reference rate so far this year, as well as the first respite for mortgage holders in the current monetary cycle, according to calculations carried out by Europa Press and in the absence of confirmation by the Bank of Spain.

The index that affects mortgages closed January at 3.609%, while in February it reached 3.671% and in March it closed at 3.718%. Therefore, the data for the fourth month of the year represents the first reduction in this rate so far this year.

Furthermore, given that in April of last year the Euribor was at 3.757%, mortgage holders will see the first year-on-year reduction in this rate, something that had not yet occurred in the current monetary cycle.

This will mean that a person who has contracted a variable mortgage of 150,000 euros for 30 years and with a differential of 0.99% plus Euribor and must review their interest rate with the April Euribor will register a slight decrease in their interest rate. 4.78 euros per month.

This calculation implies the maximum level of reduction for a person who has contracted a mortgage with that financed level, since since it is a review at the beginning of the loan (that is, there are 30 years left to amortize), the change in the type of Interest has much more impact as there is a lot of principal to amortize.

“The decrease that we see this month in the installments of variable mortgages due to the stabilization of the Euribor is very slight and does not compensate for the increases in prices that mortgage holders have suffered in the last two years,” explained the director of Mortgages at iAhorro, Simone Colombelli. .

According to economist and co-founder of HelpMyCash, Olivia Feldman, the expectation of a sharp decline in the Euribor in the short term may be too optimistic. In her opinion, the indicator is likely to remain relatively stable at around 3.7% until June, when the European Central Bank (ECB) is expected to reduce its interest rates.

The estimate of the experts of the Kelisto comparator is more optimistic. “In the medium term, our forecasts are maintained, with due caution: the indicator would be around 3.5% at the end of the first semester, to progressively decrease until closing 2024 at around 3%,” explains the Kelisto spokesperson. , Estefanía González.


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