All Topics Group

The Euribor 12 month rate at 0.187% in April 2015, and the impact on housing and homeowner mortgages in Spain, Portugal, Italy and other eurozone countries

04/14/2015

In Spain most mortgage interest rates are tied to the 12 month Euribor, set at about 0.3% above the 12 month Euribor rate, which was 0.187% in April 2015. In Portugal most morgage interest rates are set using the average of the 3 and 6 month Euribor rate, which are close to zero. The result is significant reduction in mortgage payments by a third to half of the original mortgage payment. This is providing significant relief to homeowners with mortgages in Spain, Portugal and Italy. Spain and Portugal suffer from a severe housing crisis and high unemployment. This result of the ECB monetary policy, aids the economic recovery in Europe.

Grouped Articles

Tumbling Interest Rates in Europe Leaves Some Banks Owing Money on Loans to Borrowers

Wall Street Journal 04.14.2015

Patricia Kowsmann And Jeannette Neumann, Patricia, Kowsmann, And, Jeannette, Neumann

E.C.B. Sees Early Progress From Its Bond-Buying Program

New York Times 04.15.2015

Jack Ewing, Jack, Ewing

ECB’s Mario Draghi Signals Boost to Stimulus Program

Wall Street Journal 10.23.2015

Brian Blackstone And Paul Hannon, Brian, Blackstone, And, Paul, Hannon

ECB: Easing Ain’t Always Easy

Wall Street Journal 10.23.2015

Richard Barley, Richard, Barley

Loan Growth Suffers at Spanish Banks

Wall Street Journal 11.13.2015

Jeannette Neumann, Jeannette, Neumann

Economic Unease Puts Top Central Bankers Under Renewed Pressure

Wall Street Journal 01.22.2016

Tom Fairless, Tom, Fairless, Jon Hilsenrath, Jon, Hilsenrath

Negative Rates Are Working (a Bit)

WSJ 09.07.2016

James Mackintosh

Strong Eurozone Growth Shows Payoff of ECB Stimulus

WSJ 07.14.2017

Tom Fairless