House payments with Euribor decreases between €24 and €81 in September.
With the cut in benchmark interest rates, Euribor rates continue to decrease, leading to a progressive reduction in monthly payments for variable rate housing loans. Find out how much they could decrease in September.
Housing credit installments decrease again in September.
Home loan installments decrease again in September for contracts indexed to Euribor revised this month, ranging from 23.87 to 81.39 euros.
The largest descent occurs within 12 months of the Euribor, according to a simulation by Deco/Dinheiro&Direitos, shared by Notícias ao Minuto.
The simulation is based on a loan of 150,000 euros, with a term of 30 years, and a spread of 1%. In this scenario, if the contract is indexed to the 12-month Euribor, you will pay a monthly installment of 730.55 euros starting from September, a decrease of 81.39 euros compared to the previous installment.
In the same scenario, but with a contract indexed to Euribor at six months, the borrower starts paying a installment of 753.36 euros, 42.82 euros less than the amount paid since the last revision.
Still with the same loan conditions scenario, but with a contract indexed to Euribor at three months, the September installment will be 764.31 euros, a reduction of 23.87 euros compared to the amount paid since June.
Note that the values in question were calculated based on the average Euribor rates in August, of 3.425% at six months, 3.548% at three months, and 3.166% at 12 months.
It must also be remembered that, for the purpose of reviewing a variable rate housing loan indexed to the Euribor, the average Euribor considered is that of the month prior to the signing of the contract.
The monthly installments have been decreasing progressively since the beginning of the year, with Euribor rates falling, as a result of the cut in the key rates on June 6th, by 25 basis points.
In the last monetary policy meeting on July 18th, the European Central Bank (ECB) decided to keep interest rates unchanged, with a new cut expected at the meeting on September 12th. Currently, the key policy rates are as follows: the rate on the main refinancing operations at 4.25%, the rate on the marginal lending facility remains at 4.50% and the rate on the deposit facility at 3.75%.
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