A drop in the price of the Euribor, used as a reference to calculate mortage interest rates, should mean cheaper monthly payments for many families struggling in the current
financial crisis.
The slight fall from 0.525% to 0.542% means a 150,000 euro mortgage taken out over 25 years will cost 267 euros less a year, some 22.25 euros less monthly.
The Euribor has lost 0.336 points compared to August last year and consequently there has been a gradual reduction in mortgage interest over the last few months.
