Another All Time Low For the Euribor
February 25th, 2010
The Euribor, the main indicator used for calculating mortgages in Spain, has marked a new all time low. On the penultimate day of the month, the Euribor experienced a substantial drop to finish at 1,218%, from 1.226% the day before.
This one day decrease is the largest experienced this year, edging out January the 15th which saw a drop of seven thousandths of a percent, and with just one day of trading until the end of February, the monthly interim level of the Euribor (1.226%) will also mark a record monthly low.
The monthly average in February 2010 will be almost one percent lower than that seen in February 2009, which was 2.135%. This means that any mortgages that are due for review in March (rate reviews are calculated by the previous month’s figures), will benefit from average savings of 65 euros per month, or 780 euros per year.
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