The index began the last month of the year at -0.188% and deepened its decline until the 19th day of the month, when it registered -0.194% and thereafter reversed its trend. Finally, it ended with an average of -0.19% in December, which will make it cheaper to mortgages that touch review at about 70 euros per year.
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 70.08 euros in their annual fee or, which is the same, of 5, 84 euros per month.
Effect of the ECB
This new fall of the Euribor, explains according to XTB analyst Rodrigo García, because the European Central Bank (ECB) has not reduced its minority stimuli to the economy, but rather increases them at a slower pace.
For the expert, that the asset purchase program will go from the current 60,000 million euros to 30,000 million as of January 2018 "does not mean a reduction of stimuli", but "quite the opposite", since the money supply.
"Taking as a precedent the actions of the ECB, always marked by prudence, it seems a bit crazy to see a scenario of zero stimulus in the coming months, therefore, our expectation for the Euribor is still bearish," explains Garcia, who does not expect " too many changes "in the index situation for 2018.
In this way, he points out that the biggest beneficiaries of the current context will continue to be the borrowers, both potential and current ones that have the right to review, as they will be financed "increasingly cheaper".