October, another month that the Euribor closes with a historical minimum

Another month, the Euribor marks a historical minimum.

We recently published precisely the news The Euribor closes September with its historical low in which we counted that The Bank of Spain reported that the Euribor ended September at -0.168% compared to -0.156% the previous month, taking more than 20 consecutive months to remain negative.

This trend continues in October reaching the negative figure of -0.18%, marking a new minimum.

With these values, mortgages of 120,000 euros to 20 years with a differential of Euribor + 1% to those who review them will have a reduction of about 71 euros in their annual fee or, that is, about 6 euros per month.

Gustavo Martínez, analyst at XTB, explains that the reason for this new drop in Euribor is the excess of money supply that exists in the market as a result of the program of purchase of assets of the ECB and notes that the harmed of this phenomenon are banks or lenders because their benefits are reduced. It is also expected that this scenario will continue during the next year, although with softer falls.