Mortgage with Euribor? Your installment can drop (quite a bit) in August.

If you have a variable rate mortgage, find out how much your installment can decrease in August.

The month of August brings good news for borrowers of variable rate mortgage loans indexed to Euribor. Interest rates have dropped and all Euribor terms, three, six and 12 months, have consequently decreased.  

So, according to simulations by DECO PROTeste shared with Notícias ao Minuto, in a financing scenario of 150,000 euros over 30 years and a spread of 1%, there will be decreases of 22.44€ in contracts with Euribor at six months, of 18.12€ in Euribor at three months, and 56.60€ in Euribor at 12 months. 

Let's see what the instalment values in this scenario will be, according to the Euribor rates:  

• Scenario 1 (Average 6-month Euribor of 3.644%): €772.92  

• Scenario 2 (Average Euribor at 3 months of 3.685%): €776.60  

• Scenario 3 (12-month Euribor average of 3.526%): 762.35€  

These were the instalments in the last reviews: 

• Scenario 1 in February 2024 (Average 6-month Euribor of 3.892%): €795.36  

• Scenario 2 in May 2024 (3-month Euribor average of 3.885%): €794.72  

• Scenario 3 in August 2023 (Average 12-month Euribor of 4.149%): €818.95

If the decrease in your installment has not been significant, but you are looking for solutions to lower the amount you pay monthly for this burden: We may have options for you! The credit intermediaries at Poupança no Minuto can help mediate with banks to renegotiate your current conditions or transfer the credit to better conditions, in a process that is cost-free and saves you from all the bureaucracy, so that you can start saving monthly... Contact us now to find out more: