Housing installments may decrease up to 137 euros in June.
The mortgage installments will drop in June for housing loans indexed to the three, six, and 12-month Euribor. For a loan of 150 thousand euros, with a 1% spread and a term of 30 years, the reduction can reach up to 137.17 euros.
Euribor rates with decrease in May
In May, the averages of the Euribor rates decreased in the three main terms.
- Euribor 3 months: Dropped 0.162 percentage points, settling at 2.087%;
- Euribor 6 months: Fell 0.086 percentage points, standing at 2.116%;
- Euribor at 12 months: Decreased by 0.062 percentage points, reaching 2.081%.
Remarkably, the 3-month Euribor rate fell below 2% in the last working days of May, for the first time since December 2022.
Impact of the decline in home loan installments.
Considering a loan of 150 thousand euros, with a spread of 1% and a term of 30 years, the new installments starting in June will be:
- Indexed to the 3-month Euribor:
New installment: 639.47 euros
Reduction: 36.19 euros
Quarterly savings: 108.57 euros
- Indexed to 6-month Euribor:
New installment: 641.83 euros
Reduction: 56.08 euros
Semiannual 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 tendency for the decrease in Euribor rates, providing relief in the monthly installments of housing loans.
Therefore, the decrease in Euribor rates results in significant savings for those with housing loans tied to these rates.
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