For those who have a real estate loan indexed to Euribor for one year, savings in January could exceed 100 euros. The ECB wants to maintain the trend of falling interest rates this year.
The drop in interest rates will bring significant relief to Portuguese families with real estate credit, allowing savings that can exceed 100 euros per month for those whose installments are revised in January.
According to calculations by Deco Proteste, anyone who has not seen changes in their provision for a year will be able to save up to 107.84 euros per monthreinforcing the budget available for other expenses.
Deco Proteste bases its estimates on a loan of 150 thousand euros for 30 years. For a three-month Euribor-indexed credit, last reviewed in October, the estimated monthly savings is 53.09 euros. As for the six-month Selic, with the last update in July, the reduction in installments reaches R$94.64, says the .
Deco Proteste’s simulation took into account the average Euribor in December, when the six-month rate represented 37.36% of variable rate credit in Portugal. Reviews every 12 and three months covered 33.13% and 25.54% of contracts, respectively.
The European Central Bank (ECB) has played a central role in this reduction of charges, by deciding, on December 12, to lower key rates by 0.25 percentage points, setting interest at 3%. This measure already directly impacts Euribor rates, but the ECB warns that further cuts may be limited due to the recent acceleration of inflation in the Euro Zone, including in Portugal.
The next meeting of the board of governors is scheduled for January 30, and the ECB’s objective is to set benchmark interest rates at 2% with gradual cuts throughout the year.
