The BCE will work so that the Euribor goes down moreover
09.12.2008
Jaen-Claude Trichet, The president of the European Central Bank, has just recognized
that the euribor, keeps on being too high and I point out that they are working it to try to normalize.
The Trichet declaration before the European Parliament coincided with a nuev decrease of the Euribor, and there go already 42 consecutive descents, which it it was placing yesterday in 3,661 % in his daily quotation from his maximum of 5,526 %, reached last October 2.
The good news for those that have a mortgage employed is that the euribor consolidates tendency to the fall, to what helps the historical decided descent of the interest rates of 0,75 points last Thursday for the BCE and that leaves for the time being the official price of the money in 2,5 %.
In view of the unexpected intensity of the reduction of interest rates for the BCE due to the economic crisis - from October 8 until last Thursday the types have happened of 2,5 was in 4,25 % to the current one %-, the euribor has not accelerated too much his fall. Most of the analysts attribute it to that part of the movement to the fall of the BCE was already deducted and it did not surprise too much to the markets, therefore everything aims at that should discard a capital collapse of the principal index of reference in the mortgages hiring.
But yes he will continue his descent up to placing it in levels of 3,5 % or 3,2 % at the end of the present year, if - the euribor assumes the clipping of the BCE.De to confirm to him this information, they would suppose an exceptional reduction of the letters of the mortgages. This way, if there is cited as an example the euribor of December of last year, which was 4,793 %, the saving of an average loan-150.000 euros to 26 years from term to euribor more 0,5 points - might come up to 112 euros a month or, what is the same, 1.344 euros a year.
