Question from Jean-Louis (Marseille): “I want to subscribe to a mortgage. My banker tells me that the interest rate, which will be applied to me, will depend on the Euribor. What does this indicator correspond to?”
You are about to conclude a mortgage at revisable rate. In other words, the credit rate is likely to be revised upwards and downwards depending on an indicator. In your case, you tell us that it is the Euribor. This reference is classic enough for a mortgage. The European Interbank Offered Rate, that is to say the Euribor, is an interbank rate.
In general, this rate is used by banks to finance themselves. It reflects the price at which they exchange money over periods ranging from one week to twelve months. Using this rate as a reference for your mortgage, your bank ensures that you do not lend you money at a rate lower than that from which itself has borrowed. It adds, in addition, its margin which generally goes from 0.60 % to 1.50 %.
Note that the Euribor is calculated on the basis of the daily average of lending rates over 360 days, communicated by a sample of fifty -seven most active banking establishments in the euro zone. He changes every day at 11 a.m. It is the European Union banking federation which communicates its new value.
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