The Euribor to one year, the main reference to set the interest rate of the mortgages in Spain, it fell in December to -0.502% from -0.487% in November. Taking the last 12 months as a reference, the index registers a 0.005 point decrease, which implies that the credits that are revised with the reference of last month will have a slight reduction in the quota.
Thus, mortgages of 120,000 euros with a maturity of 20 years and a differential of Euribor plus 1% to those that have a revision with the December data will experience a reduction of the price of 3.72 euros in your annual fee compared to the same month last year or, what is the same, 0.31 euros per month.
December has become the fifth month in its history that this indicator of the European interbank market registers a data below -0.5%, after those recorded in January, July, August and November of last year. The Euribor registered a 2021 with small movements up and down due to the ultra-expansive monetary policy of the Banco Central Europea (ECB), although the beginning of the withdrawal of the stimuli to combat the pandemic makes the market think that it will rise moderately in the coming years.
Thus, the index fell in January of last year to -0.505%, to rise in February to -0.501%, to -0.487% in March, -0.484% in April, and -0.481% in May. Subsequently, it fell in June (-0.484%), in July (-0.491%) and in August (-0.498%). Last September it rose again (-0.492) and also in October (-0.477%), to fall again in November to -0.487%, and now in December to -0.502%.
For the director of mortgages of iAhorro, Simone Colombelli, 2021 has been “the most stable year of the last five”. Thus, since the first negative data in history was recorded in February 2016 (-0.008%), “the trend has been a continuous downward trend”. The expert also estimates that stability could continue to be the dominant note, as the ECB has reiterated on several occasions that it is “quite unlikely” that it will raise official rates in 2022.
For this reason, Colombelli does not expect a “big rise in the Euribor in the coming months, at least not in the first half.” And if later there were a change in monetary policy, he adds, “it would not be radical, but gradual.” In his view, the index “it will oscillate in a maximum range of two tenths”, between -0.3 and -0.5%.