Euribor plummets and mortgage downgrade looms in 2024

The Euribor, the benchmark for most mortgages in Spain, has seen a significant decline in early 2024, raising expectations of an imminent reduction in mortgage costs for borrowers. 

This change in the Euribor has been received with enthusiasm by consumers and has generated a great deal of interest in the real estate market.

The Euribor, which has been at historically low levels for several years, has continued its downward trend in the new year, reaching figures not seen for a long time. This phenomenon has led many experts to speculate that mortgages may become even more affordable for homebuyers over the course of 2024.

For current homeowners with Euribor-linked mortgages, this news represents a potential reduction in their monthly payments, allowing them to save money or even accelerate their loan repayments. In addition, for those considering buying a new property, the prospect of lower mortgage rates could open up new opportunities and make the dream of home ownership more attainable.