Home loan installments decrease in the Euribor at three and six months in March.

If you are looking to change the interest rate on your mortgage, speak to a credit intermediary from Poupança no Minuto and renegotiate or transfer your contract! But read first if you will see your monthly installment decrease.

Euribor at three and six months? Your home loan installment will decrease in March.

In March, borrowers with variable rate housing loans linked to the three or six-month Euribor, and scheduled for review next month, will feel relief in their monthly payments.

According to simulations by DECO PROteste, shared by Notícias ao Minuto, the decrease reflects 3.93 euros less on the six-month Euribor and 4.48 euros less on the three-month Euribor, in an example of a loan with 150 thousand euros in debt, 30-year financing term and a 1% spread.

However, in the simulation with the same example for the Euribor at 12 months, the installment amount increases by around 12 euros.

So take a look, in the example of credit with the conditions described above, the installments, with the last review, were with the following values:  

Euribor at 6 months (3.944%) in September 2023: 800.11 euros

Euribor at 3 months (3.972%) in December 2023: €802.67

Euribor at 12 months (3.534%) in March 2023: 763.06 euros

And with the update of Euribor rates in February, in the next review, the monthly installments will change to the following values:

Euribor at 6 months (3.901%): 796.18 euros

Euribor at 3 months (3.923%): 798.19 euros

Euribor at 12 months (3.671%): 775.34 euros

It can thus be seen that the average Euribor for February fell 0.002 points to 3.923% for three months, rose 0.009 points to 3.927% for six months and 0.070 points to 3.609% for 12 months.

Note that these updates only apply to monthly payments of housing loans that are under a variable rate regime, indexed to Euribor rates. If this is your case and you want a more stable monthly payment, know that it is possible to change your rate regime to fixed, renegotiating the conditions of your current contract with your bank, or changing your financing to another bank.  

With the help of the credit intermediaries from Poupança no Minuto, you have access to a free mediation service with banks, simulations of various proposals, and advice on the most suitable proposal for you! The agents support you throughout the entire process so that you can have better conditions on your home loan.