Monthly mortgage payments may decrease by up to 137 euros in June.
House installments will decrease in June for housing loans indexed to the three, six, and 12-month Euribor. For a €150,000 loan, with a 1% spread and a 30-year term, the reduction could be up to €137.17.
Euribor rates decrease in May.
In May, the averages of the Euribor rates decreased in the three main terms:
- Euribor 3 months: Decreased by 0.162 percentage points, settling at 2.087%;
- Euribor rate at 6 months: Fell 0.086 percentage points, standing at 2.116%.
- Euribor at 12 months: Decreased 0.062 percentage points, reaching 2.081%.
Remarkably, the 3-month Euribor stayed below 2% in the last business days of May, for the first time since December 2022.
Impact of the fall in housing loan installments.
Considering a credit of 150 thousand euros, with a spread of 1% and a term of 30 years, the new installments from June will be:
- Indexed to 3-month Euribor:
New installment: 639.47 euros
Reduction: 36.19 euros
Quarterly savings: 108.57 euros
- Indexed to Euribor 6 months:
New installment: 641.83 euros
Reduction: 56.08 euros.
Semi-annual savings: 336.48 euros
- Indexed to 12-month Euribor:
New installment: 638.98 euros.
Reduction: 137.17 euros
Annual savings: 1,646.04 euros
These reductions reflect the trend of decrease in Euribor rates, providing relief in monthly home loan installments.
Therefore, the decrease in Euribor rates results in significant savings for those with home loans linked to these rates.
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