Euribor interest rates reached the lowest of the past 19 months. The Euribor to six months, which is the most widely used for lending to housing, is now% in 4020. But, according to data from the National Statistics Institute (INE) for the month of October, these decreases in interest rates still are not reflected in loans to purchase the home. The benefits do not fall because of the "spreads" applied.
For the 32nd consecutive session, the Euribor interest rates are falling. Thus, the three-month interbank rate is below 4%, the Euribor to six months is now fixed in 4020% and the rate to 12 months fell to 4077%. Since October 10, the Euribor keep moving lower, but according to data from the INE, for the same month of October, the interest rate on lending for housing continued trend of rising. And the explanation is that the "spreads" applied by the bank did not fall.
This means that banks are not accompany the decreases in interest rate of reference of the euro zone and continue to apply higher rates on transfers that are between them, namely the Euribor rates.
Because of the recession we have in the eurozone, with the decline in inflation, Jean-Claude Trichet, president of the European Central Bank (ECB) has warned the market that there may be more cuts in interest rates practiced in Europe. And the announcement of further cuts may occur on Dec. 4, when the next meeting of the ECB.
For the 32nd consecutive session, the Euribor interest rates are falling. Thus, the three-month interbank rate is below 4%, the Euribor to six months is now fixed in 4020% and the rate to 12 months fell to 4077%. Since October 10, the Euribor keep moving lower, but according to data from the INE, for the same month of October, the interest rate on lending for housing continued trend of rising. And the explanation is that the "spreads" applied by the bank did not fall.
This means that banks are not accompany the decreases in interest rate of reference of the euro zone and continue to apply higher rates on transfers that are between them, namely the Euribor rates.
Because of the recession we have in the eurozone, with the decline in inflation, Jean-Claude Trichet, president of the European Central Bank (ECB) has warned the market that there may be more cuts in interest rates practiced in Europe. And the announcement of further cuts may occur on Dec. 4, when the next meeting of the ECB.
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