The payer of a mortgage may now be left with thousands of euros more for consumption

Mortgage During the spring, even the last customers are visible to the last customers and is now improving the economic situation of many families.

If the interest rate check date of the loan tied to Euribor of the year hit the last week, the interest rate on the loan dropped by about 1.3 percentage points at a single stroke.

According to a rough calculation, this means savings of around € 2,600 per year on a loan of EUR 200,000. The $ 100,000 loan would be EUR 1,300.

A year ago, 12 months of Euribor was about 3.7 per cent, and about 2.4 per cent in the past week.

“On interest rates The invoice has started more than a year ago, so virtually every interest rate on a variable interest rate has been checked down at least once, ”says Nordea’s Director of Personal Customers Jani Eloranta.

While interest rates on Finnish mortgage loans rose rapidly compared to Central European countries that favor long interest rates, now the interest rate decline is also very fast in Finnish loans.

OP’s interest rate checks also hit fairly evenly throughout the year, ie over the last six months, the interest rate has fallen by about half of the bank’s 12 -month Euribor loans.

About 80 % of OP’s mortgages are tied to Euribor of the year.

The total interest rate on the mortgage consists of a reference rate and a customer -specific margin negotiated with the bank, which is approximately 0.5-0.8 %.

Depending on the margin, the total interest rate on the loan would be at the current level of reference rate at 3 %.

Se, How the interest rate savings affect the monthly installment of the loan depends on the abbreviation complaint. If the loan is abbreviated by annuity, the reduction in interest rates will reduce the monthly installment to the bank.

If the loan is repaid with a fixed level, the monthly installment will not change, but the loan period will be reduced accordingly.

In any case, the decline in interest rates gives households flexible. Even if the repayment method is a fixed installment, it may now be possible to change it if there was a need for cash.

When interest rates are high, extending the loan period may not have been possible.

Finnish Interest rates on mortgage loans follow the decline in reference rates with a delay, as the interest rate on the loan will only change on the day of interest. In the early years of this decade, the loan was almost invariably bound to Euribor of the year. Then the interest rate on the loan changes every year.

The photographer shows that Euribor of the year began to decline at the end of 2023. The average interest rate on the mortgage rate began to decline gently until the dawn of last year.

As the interest rates started to rise rapidly, the popularity of shorter interest rates increased, as they then looked cheaper than the year. At the beginning of 2023, about one third of the loans were tied to a three -month Euribor, according to the Bank of Finland’s statistics.

The total interest rate on these loans changes every three months. The three -month Euribor is still a bit higher than a year, but with interest rates stabilizing, it is that it will fall below the interest rate of the year.

Half a year Euribor has already fallen below the interest rate of the year.

Year Euribor’s bill is expected to continue, but the biggest bill has already been seen. At the end of August, the market prices the 12 -month Euribor will be 2.23 percent and after a year 2.14 %.

It is not in sight that the interest rates return to or below zero, where they were for years before 2022. Zero and minus interest rates are very exceptional as the economic phenomenon.

In fact, an interest rate of about 2 % means a real interest rate of about zero percent, while the inflation rate is at 2 %.

It is not advisable to calculate your own finances on interest forecasts, as markets have often been wrong in their forecasts.

On Thursday, Euribor was quoted to 2.409 %, six -month Euribor 2.389 % and three -month Euribor to 2.485 %.