Home loan installments with Euribor decrease up to 130 euros in November.

November brings relief in house installments for contracts linked to Euribor.

Housing loans with variable interest rates linked to the Euribor for three, six, and 12 months may significantly decrease in November for those with a scheduled review this month, according to simulations by DECO PROteste for Notícias ao Minuto. [Source: Notícias ao Minuto.]

For contracts with six-month Euribor, the expected decrease is about 74.15 euros, while for three-month Euribor, the reduction should be 45.96 euros, considering a financing of 150,000 euros for 30 years and a spread of 1%.

For the 12-month Euribor, the installment is expected to decrease by around 130.30 euros, with the same simulated financing example.

Now see, these were the values of the last reviews according to their respective maturities:

• Scenario 1 (Average Euribor 6M of 3.838%): €790.45 - May 2024 

• Scenario 2 (Average 3-month Euribor of 3.685%): 776.60€ - August 2024 

• Scenario 3 (Average 12M Euribor of 4.160%): 819.96€ - November 2023

And these will be the November installments, according to each average of the Euribor in October:

• Scenario 1 (Average Euribor 6M of 3.002%): €716.30 

• Scenario 2 (Average Euribor 3M of 3,167%): 730.64€ 

• Scenario 3 (Average 12M Euribor of 2.691%): €689.66 

On October 17, the European Central Bank cut interest rates by a quarter of a point for the third time this year, the second consecutive cut, to 3.25%, due to inflation it considers to be "on the right track" and less developed economic activity than expected.

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