All the latest Euribor and Spanish mortgage news for January 2014
Euribor (12 months) ended January with a monthly average of 0.562pc, up 3.5pc on December, but 2.3pc lower than the same month last year.
With Euribor almost the same as it was 12 months ago borrowers with annually resetting mortgages will see monthly repayments fall by a negligible amount, perhaps even less than one Euro.
Even though Euribor is still near record lows, a recent trend towards tightening shows signs of petering out.
Meanwhile, new lending keeps heading south, down an annualised 27.4pc in November, according to the latest data from the INE. There won’t be any recovery in the Spanish housing market until mortgage lending returns, so this is a key figure to watch.
BBVA, a bank, say part of the reason for the collapse in lending is a lack of demand, not just an unwillingness to lend on the part of banks.