Euribor under 2.7%
Good news for those who have taken out adjustable-rate mortgage as rates continue to fall and "give" around 175 euros a month off.
The ' Euribor in just three months has risen from 5.39% to 2.69%.
A decline that has led to a positive impact on installment loans indexed to the Euribor.
For those who had a mortgage of € 100 thousand in 30 years that the rate had risen up to 635 euros per month dropped to 460 euros, a monthly savings of just 175 euros, about 2,100 per year.
These values increase over the duration of the loan and the amount of financing, and those from 200,000 euros to 30 years can get a "bonus" of 330 euros per month.
From January 1 came into force with the anti-crisis decree introduces the provision that a ceiling of 4% to a variable rate mortgage payments and the state is taking on the difference in interest if this limit is exceeded.
This law provides that the ceiling of 4% applies for all of 2009 to the rate of mortgage loans before October 31, 2008.
For a thirty-year mortgage of € 100,000 contract in 2003 to a rate of 1, 96% with a spread of 2%, currently serving an interest of 4.69%, with a rate of 518 euros. The borrower, with the ceiling of 4%, will pay only 478 euros, while the difference will be borne by the State.
From March 1 will enter into force provisions of the new Bank of Italy, under which banks must prepare a document clearly showing the data for interest rates and spreads, methods of depreciation and the frequency of installments.
This document should be sent to those who contracted the first mortgage.
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