Euribor rates fall again

Photo credit: Pepe Rodmon

Euribor ended February 2014 7.6 per cent lower year-on-year and 2.3 per cent lower month-on-month, reports Spanish Property Insight. Reuters has recently announced that it will stop publishing Euribor figures apart from notable rises and falls due to charges for the data.

The Spanish website reports that Euribor has declined for 25 months in a row, heading for back to the record low 0.484 last achieved in May 2013, a dip that saw property in European markets, such as France and Spain, become more affordable for buyers. Indeed, the falling rates boosted demand for French real estate significantly last year on TheMoveChannel.com.

As Spanish Property Insight notes, though, the falling rates are only benificial for those who can secure lending: banks in Spain approved 197,614, 85 per cent lower than 2006.