When does the mortgage go down? Surprise for those mortgaged since spring

When does the mortgage go down? The week says goodbye with good news for the mortgaged in spring in Spain. he eurobor today it continues to decline. he mortgage benchmark indicator marks a record drop and does so hours after the European Central Bank (ECB) announced that rates are maintained. Despite Christine Lagarde’s harsh tone in her message, the indicator is already in December at a 3.75% average, This data opens the door to new falls when the cuts arrive, a date that for now seems distant. For the moment, in the middle of the last month of the year, the first to notice a relief in their mortgage payment would be those who signed the loan for your home “banks can react and lower their spreads“, points out Laura Martínez, spokesperson for iAhorro. On December 1, sources from the financial sector already assured this medium that “if the Euribor begins to fall, it is likely that more banks will dare to reduce the interest on their fixed and mixed mortgages “. “As for clients with a variable mortgage, the good news of a reduction in their monthly payment will have to wait at least until spring, just as despite the Euribor the week. does not rise and the Euribor could begin to be said to have already reached its ceiling.”There are still months for these mortgaged notice a drop in their mortgage payments,” they say. If the downward trend catches on, it would not be until April or May when the Euribor today drops and homeowners who sign a variable mortgage in those months will now renew with a value menu.(e,n,i,s){var d=”InfogramEmbeds”;var o=e.getElementsByTagName(n)[0];yes(window[d]&&window[d].window initialized[d].process&&window[d].process();else if(!e.getElementById(i)){var r=e.createElement(n);r.async=1,r.id=i,r.src=s,o.parentNode.insertBefore (r,o)}}(document,”script”,”infogram-async”,”https://e.infogram.com/js/dist/embed-loader-min.js”);According to iAhorro, if the Euribor drops to 3.5% in March, a 30-year variable mortgage of 150,000 euros with a spread of 0.99% would notice a monthly reduction of 12 euros, which amounts to 153 euros per year. If the mortgage debt amounts to 300,000 euros, the annual reduction is double. In April a greater reduction would be noted. Those mortgaged with 150,000 euros of debt would have an annual reduction of 270 euros. If the scenario takes into account the forecasts of the most pessimistic analysts, we must wait for the months of June and July to notice any economic relief in the mortgage.