The 12-month Euribor stands at 3.323% on October 2, after rising by a tenth. The monthly average climbs to 3.313%, representing the highest level since 2024 and an extra cost of up to €1,000 annually for variable mortgages.
The Euribor at 12 months, the most widely used benchmark in Spain for calculating variable mortgages, has closed the first week of October at 3.323%, after recording a daily increase of 0.010 points. The monthly average is at 3.313%, which represents an increase of 0.229 points compared to the September closing, as reported by elperiodico.com.
This figure confirms the upward trend that began in March and has accelerated in recent months. In August, the index closed at 2.95%, nearly a tenth higher than in July (2.855%). September broke that progression with a surge to 3.247%, the highest level since 2024. The difference compared to the same month in 2025 is now 1.126 points, translating into an increase in mortgage payments of up to €1,000 a year for variable loans.
The Euribor is calculated based on the interest rates at which the 18 largest banks in the eurozone are willing to lend money to each other. It is updated daily and serves as a reference for mortgages, business loans, and investment products. In 2025, the annual average was 2.222%, with a decrease of more than a point (1.053) compared to 3.275% in 2024. Last year started at 2.525% in January and ended at 2.267% in December, with a difference of -0.258 points.
The current fiscal year began with a slight decline that placed the January average at 2.245%, ending the upward trend of previous months. However, the increases in February and March confirmed a change in direction that has continued to this day. For those with variable-rate mortgages, the upcoming review of their payments will incorporate this new upward scenario.
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