12-month Euribor drops to lowest level since late April

The 12-month Euribor, Finland’s most common reference rate for mortgages, fell to 2.693% on Monday, its lowest level since the end of April, according to a report by Finnish news agency STT cited by Yle.

Economist Juhana Brotherus, CEO of the Finnish trade union confederation Suomalainen työ, wrote on X that fears of rates exceeding 3% are fading. He called the decline the most significant variable for the housing market and Finland’s economy in the latter half of the year.