Breaking News: EURIBOR Hits Historic Low!
The average EURIBOR rate for November stands at 2.514%, a drop of 0.178 points compared to the previous month.
Today, EURIBOR has plummeted to 2.393%, marking a historic one-year low that we haven’t seen in previous years!
But… what exactly is EURIBOR?
EURIBOR (Euro Interbank Offered Rate) is the interest rate used on the European interbank market, calculated based on the average rates at which banks lend to one another. Economic conditions and monetary policy in the Eurozone influence its fluctuations.
Here are the key facts:
There are five types of EURIBOR, with the 12-month EURIBOR being the most commonly used, impacting mortgage rates in Spain. However, the 3-month EURIBOR is a crucial indicator of the interbank market and affects various financial products.
EURIBOR is calculated daily by the European Money Markets Institute (EMMI) and published every business day at 11 AM, after excluding extreme values and averaging the data from 18 panel participants.
What does this mean for YOU?
Now is the perfect time to take out a mortgage!
This is your moment to act – rates are down, so why wait?
