On January 5th, the Euribor for the first time in two years the rate dropped to less than 3%. As happened in March 2006 Euribor reached a figure of 2, 995% and that would seem to decline further as the European Central Bank's forecasts. Will this be interpreted as a reasonable opportunity to access a mortgage? It would be advantageous to say "yes", but the fact is that; overall, mortgage rates have experienced a considerable reduction in their interest.

The Spanish Mortgage Association had predicted in November when he warned that interest rates for mortgages in the first quarter of 2009 could have a considerable decline, precisely, by the decision does not support the European Central Bank to lower interest rates half point, to 3.25%. Users of mortgages to tap their way to revise its annual depreciation might benefit from a drop in the letter. A professor of finance, Franklin Allen, said that Europe is experiencing a deep recession, especially in Britain. The Euribor, as many know, is the interest at which financial institutions lend money in the interbank market of the euro. Its value is calculated by the European Banking Federation, the average price of the 64 major European banks. For mortgages, this means that banks in the annual or biannual review of the mortgages, they can bring down the monthly mortgage of more than 100 euros each month.

Spain is the EU country in which most are falling mortgage lending. The fall is inter-annual and -36% in Spain, ahead even of the United Kingdom whose fall was -32%. Germany, however, is the only EU country in which mortgage loans have increased significantly. If we consider that the Spanish government issued the royal decree establishing the moratorium on payment of 50% of mortgage loans, the situation was accentuated enough.

In Catalonia and Sevilla mortgages have fallen from an impressive, and the Balearics have increased mortgage offerings for young people. It seems that after a time that drowning in debt was a tragedy that almost accepted as normal, low mortgage is a reality that, at least in the "demilitarized zone" Euribor, gives a breather more than one debtor.