Euribor falls again for second month in succession

The Euribor, the Central European Bank's base lending rate, is set to close the month of November at 4.60%. Last month the Euribor closed at 4.647% after 24 consecutive months of increases. This month's small drop adds weight to the notion that the euribor has reached its ceiling and is descending, albeit slowly.

The figure of 4.60% is still higher than the rate in November 2006 when the Euribor was at 3.864%. However, the downwards tendancy will have to continue before the benefits are translated in individual monthly mortgage payments.


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