Thus a mortgage holder with a €150,000 loan paid back over 30 years and indexed to the six-month Euribor rate with a 1% spread will end up paying €491.19 and down €11.65 from the last review in September.


As regards exactly the same mortgage debt but indexed to the three month rate, that monthly payment drops to €485.77, down €2.29.


The Euribor rate is settled as the average rate that a set of 57 Eurozone banks are prepared to loan money to each other in the interbank market.