The financial market continues to send positive signals for mortgages. The Euribor, a benchmark for variable rate mortgages, continues its downward trend.
In the month of April it closed with an average of 2.148%, marking 2.049% on the last day of the month, the average value of interest rates with the lowest figure recorded since August 2022.
Leaving aside the rebound in January, when interest rates reached 2.53%, the values have gradually decreased between 0.1 and 0.2 points per month.
Ricardo Gulias, CEO of RN Tu Solución Hipotecaria, a financial intermediation company specializing in mortgages, predicts that we are very close to 2.00%, a figure with which the Euribor has been "flirting" for months.
"It is possible that the Euribor will remain very close to 2% during the month of May and we could even see in the coming weeks how its daily average manages to fall below that barrier," says Gulias, and adds: "it will undoubtedly mark annual lows"
Optimism towards summer
The downward trend of the Euribor began almost a year ago, in June 2024, due to the change in the monetary policies of the European Central Bank (ECB), which carried out the first interest rate cut in eight years.
Since then, there has been a decrease of 1.56% in the interannual rate, the highest since 2009. In this line, the next meeting of the ECB will mark the dynamics of the coming months, as new rate cuts are expected.
Experts predict that, during the summer months, especially June and July, the Euribor will move below 2% "unless there is an unexpected shock." According to Ricardo Gulias, "It is estimated that, during the summer months, we will be around 1.7% or 1.6%."
The key, without a doubt, will be in the next meeting of the ECB: "We will see what cuts will be approved at the meeting in June, which will indicate how aggressive the pace of decline will be," says the CEO, and points out: "we will be close to 1.5%".
Despite the uncertainty at the international level caused by Trump's tariff policies and tensions with China, the Euribor has remained on the sidelines and, for the moment, has not replicated the rate hike of the Federal Reserve of the United States (FED). "The ECB is acting with autonomy, something that was not normal before," he says, recalling aggressive rate hikes in line with the United States.
