Spanish Mortgage rate set to fall

The Euribor, the Central European Bank's base lending rate, is set to close the month of October at 4.65%. This is the first drop after the last 24 months of consecutive increases. The figure of 4.65% is still higher than the rate in October 2006 when the Euribor was at 3.799%. However, it may now have reached its ceiling and is beginning to fall. This rate should be confirmed by the Bank of Spain in mid November.

29.10.07