Borrowers benefit from Euribor drop

  • 2013-01-09
  • From wire reports
TALLINN - In the past half-year, the six-month Euribor has dropped 130 basis points (1.3 percent), or by as much as 80 percent, the Estonian division of SEB Bank says, reports LETA. Taking into account the current average outstanding home loan balance - 37,143 euros - the average home loan holder will save a total of 480 euros per year, or 40 euros per month on the drop in the base rate.At the end of 2011, there were nearly 157,100 home loans in Estonia.Taking into account the change in the six-month Euribor (on Dec. 30, 2011 - 1.617 percent, and as of Dec. 28, 2012 - 0.320 perce...
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