The Euribor, most commonly reference used by banks to fix the interest rate form mortgage loans given by spanish banks has closed the month of December in 3452%, information provided by the Bank of Spain.
This way it is confirmed its major monthly fallen during the last three months, being the biggest interannual drop since 2003.
During this month of January 2009, Euribor is located in the 2,71% and it is expected by the money lenders that it will continue falling at least till Summer 2009.
This fall will provide some relief to those who have mortgages as they will fall by around 120 Euros a month for a mortgage of approximately 150.000 euros.