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Euribor Falls to New Annual Low
The daily Euribor rate continues to fall, reaching a new annual low of 2.494% on November 14, 2024. This impacts millions of Spanish families with variable-rate mortgages.
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EconomyLabour MarketEnergy SecuritySpainFinanceMortgageInterestrate
Boletín Oficial Del EstadoEl Mundo
- When is the Euribor rate announced?
- The daily Euribor is calculated and announced publicly each weekday at 11:00 AM. In Spain, this is announced in the Official State Gazette (Boletín Oficial del Estado).
- What is the Euribor and what is its purpose?
- The Euribor, or Euro Interbank Offered Rate, is the interest rate at which major European banks lend money to each other. It's a key indicator in the financial market, used as a reference for setting interest rates on various financial products.
- What is the significance of the one-year Euribor rate in Spain?
- Three out of four mortgages in Spain are referenced to the one-year Euribor rate, which has been the official reference rate since January 1, 2000. Fluctuations in the Euribor significantly impact Spanish households and the financial market.
- How does a change in the Euribor affect mortgage holders in Spain?
- A decrease in the Euribor leads to lower payments on variable-rate mortgages in Spain, benefiting approximately 4.1 million families. Conversely, an increase would lead to higher mortgage payments.
- What is the current Euribor rate and the monthly average for November 2024?
- As of November 14th, 2024, the daily Euribor rate is 2.494%, marking a new annual low. The monthly average for November is currently 2.564%.