Change in Euribor trend. The benchmark indicator for mortgage loans in Spain recorded the biggest decline since its collapse in February 2009 after the collapse of financial activity which caused the bankruptcy of Lehman Brothers.
The index has accumulated nine consecutive days of decline between the end of November and the beginning of December. More precisely, the November 27 was in the 4.057% and the December 8 was already at a much lower level: 3.725%.
Although during the first two days of this week the indicator increased slightly, falling by 4.057% to 3.754% that marks this Tuesday, December 13 continues to be significant.
Are interest rate cuts coming?
He Euribor performance This directly linked to changes in interest rates. Therefore, if the European Central Bank (ECB) decided to lower rates, the reference rate for mortgages in Spain would see this change in trend strengthen and continue to fall.
Precisely This Thursday will take place the last meeting of the year of the ECB. However, It seems very premature for the organization to decline and it is predictable that, as in the previous meeting, he decides to keep interest rates at 4.5%.
Until this braking, The European Central Bank had made ten consecutive increases interest rates, so it would be strange if this trend started to reverse so quickly.
In this sense, according to analysts consulted by Europe Pressthe Governing Council of the ECB will not touch interest rates at this meeting. They also hope that the President of the European Central Bank, Christine Lagarde, will try lower expectations for falling short-term rates.
THE experts predict that, despite the considerable fall in inflation in the euro area, it is necessary to wait until June 2024 to see the first cut in interest rates.