The twelve-month euribor has closed Tuesday July with an average of 1,061%, its dimension lowest of all time and a new record that will reduce the contracted mortgages a year in nearly 1,000 euros a year ago. After quote today at 0,946%, its lowest daily rate in its more than ten years of history, the indicator, used to calculate mortgages, adds six consecutive sessions below 1%, what had not happened ever. Since June, the euribor has dropped more than one tenth, and in one year it has lost more than one percentage point, since in July 2011 closed at 2,183%. This difference will be for an average mortgage of 150,000 euros in July from a year ago, with a repayment term of 25 years, a discount of more than 80 euros a month, or about 1,000 a year. Before this Tuesday, the lowest monthly rate of euribor was March 2010 at 1,215%, while its all-time high marked in July 2008 at 5,393%. In April 2010, the indicator began a climbing since the historic monthly low of March, a trend that held until by mid-2011, began slowly falls. After eight consecutive months of declines, in June 2012 the indicator closed at 1,219 per cent to four thousandths of its all-time low, 1,215%, registered in March 2010. The euribor, which is in theory the interest rate to lend money to banks in the euro area, rises or low depending on inclines of types which approves the European Central Bank (ECB), which fixed the rate at its last meeting Vice-Chancellor at a record low of 0.75%. The Agency held this Thursday its monthly meeting of interest rates, which analysts do not expect a new cut, but yes to the single currency support measures that can mitigate the European sovereign debt crisis.

Today:

3-months Eurobor from 0.325 down to 0.318%

6-months Eurobor from 0.600 down to 0.591%

Click on the chart for more.

(c) Euribor-Rates