The Euribor closes September with its historical minimum

The 12-month Euribor (the most widely used indicator in Spain to calculate the mortgage share) closed September with a new decline that represents a historical low .

At the beginning of this month, the Bank of Spain published this press release in which confirmed this information: the Euribor concludes the month of September to -0.168%, compared to -0.156% the previous month, being already 20 consecutive months remaining in negative.

This was placed below 0% since February 2016, which is lowering the rates of variable mortgages. The new decrease translates into savings of about € 60 per month for mortgaged.

On the other hand, the Bank of Spain has also confirmed that the mibor (interbank rate for a year used as the official market reference) mortgage for operations prior to January 1, 2000) has fallen in September to -0.168%.

In addition, more declines are expected until the end of the year . The ECB (European Central Bank) will not raise interest rates at least until next year, which is why lower prices are estimated or kept at lows in the following months. If there were climbs, they would be very gradual.