If you have a mortgage, in October you will feel relief in the installment.

Euribor rates continue to decrease, easing home loan installments.

If you have a variable rate mortgage indexed to the Euribor, at any term, October will bring relief to your monthly installment.

The relief can be considerable for those with the three, six, and 12-month Euribor and the scheduled review in the month of October (considering the average of the previous month's Euribor).

According to simulations for Lusa from Deco/Dinheiro&Direitos, disclosed by Jornal de Negócios, the decreases are €57.02 in contracts with Euribor at six months, €26.05 in contracts with Euribor at three months, and €108.35 in contracts with Euribor at 12 months, in a scenario of financing 150,000 euros for 30 years and a 1% spread.

Payments in October, according to the Euribor deadlines in this scenario:  

• Euribor at six months (average rate of September - 3.258%): 738.61 euros

• Three-month Euribor rate (average rate for September - 3.434%): 754.16 euros

• Euribor at 12 months (average rate for September - 2.936%): 710.60 euros

Payments in the latest reviews, according to the deadlines in this scenario:  

• Six-month Euribor (average rate of January 2024 - 3.892%): €795.36 in February 2024.

• Three-month Euribor (average rate for April 2024 - 3.885%): 794.72 euros in May 2024

• Euribor 12 months (average rate of July 2023 - 4.149%): 818.95 euros in August 2023

It should be noted that the Euribor has been decreasing in the three terms - three, six, and 12 months - reaching lows since May and March 2023 and November 2022, respectively, and ends September with an average below 3% in the longest term.

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