Euribor falls to 3.356% this Monday, down from 3.379% on Friday. The September average climbs to 3.227%, but the review of variable mortgages is still becoming more expensive.
The euribor for 12 months closed this Monday, 28 September 2026, at 3.356%, which represents a decrease of 0.023 points compared to the previous figure. The provisional average for September stands at 3.227%, 0.273 points above the average for August, according to elperiodico.com.
The index, which is calculated based on the rates at which the 18 main banks in the eurozone lend money to each other, is updated daily and serves as a reference for variable mortgages, business loans, and other financial products.
The drop this Monday comes after a summer of increases. In July, the euribor closed at 2.855% and in August it climbed to 2.95%, a level that tested housing demand and mortgage approvals, according to collected data.
The increase in the euribor compared to last year is notable: in August 2025, the index was at 2.95%, while in September 2026 the average is at 3.227%, which implies a difference of 0.277 points. For an average variable mortgage of 150,000 euros over 25 years, each tenth of a rise in the euribor increases the monthly payment by around 8 euros.
The year started with an euribor at 2.245% in January, after a slight decrease that broke the upward trend of previous months. However, the increases in February and March confirmed a change in trend that has persisted until summer.
In 2025, the annual average of the euribor was 2.222%, 1.053 points below the average for 2024 (3.275%). The index fell from 2.525% in January to 2.267% in December, a year of stability for mortgage holders.
The evolution of the euribor for the remainder of the month will depend on the European Central Bank's decisions regarding interest rates and inflation in the eurozone. Analysts consulted by this outlet indicate that the index could stabilise around 3.2% in the fourth quarter if there are no surprises.
For those with variable-rate mortgages, the annual review based on the September average will still be more expensive than last year. The reference for semi-annual reviews will be the March average, which was 2.798%.
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