Overview
- The Euribor daily rate reached about 3.003% on 21 August 2026 and the monthly average used for mortgage reviews is now projected around 2.9%–3%, the level that will be applied to upcoming variable‑rate revisions.
- That monthly average will raise payments for many borrowers with variable mortgages; for example, a €175,000, 30‑year loan with Euribor‑linked interest could increase by roughly €87 a month or about €1,044 a year.
- Lenders are also lifting rates on fixed and mixed products to protect margins, using the 15‑year IRS benchmark now trading above 3% as a guide and narrowing the gap between fixed and variable costs.
- Market commentators tie the renewed Euribor rise to higher energy prices and growing tensions in the Middle East, which have pushed inflation and pushed up expectations that the ECB may tighten policy from its 2.25% rate.
- The immediate hit will fall mostly on recent borrowers with variable contracts, while Spain’s wider exposure is cushioned because roughly 60% of new mortgages are fixed, and the index has climbed steadily through 2026 from January’s lows.