MADRID, 2 Ene. (EUROPA PRESS) -

The Bank of Spain has confirmed that the 12-month Euribor fell to 3.679% in December, registering its largest monthly fall since February 2009.

Compared to November, when it closed with a monthly average of 4.022%, the index has dropped by 0.34 points, compared to the cut recorded in February 2009 of 0.48 percentage points.

Furthermore, the December data represents a return to the lowest levels since last March, when the Euribor closed at 3.647%. However, it is still above the level with which it ended 2022 of 3.018%.

The December Euribor level implies that a person who has contracted a variable mortgage of 150,000 euros with a residual maturity period of 30 years and with a differential of 0.99% plus Euribor and must review their interest rate in the month of November, you will register an increase in your mortgage payment of about 295 euros per month.

This calculation implies the maximum level of increase for a person who has contracted a mortgage with that financed level, since since it is a review at the beginning of the loan (that is, there are 30 years left to amortize), the change in the type of Interest has much more impact as there is a lot of principal to amortize.