The 12-month Euribor rises by 10 basis points to recover at 3.201%. The provisional average for October stands at 3.216%, compared to 2.187% a year ago, which will increase the payments on variable mortgages.
The 12-month Euribor has risen by 10 basis points and is now at 3.201%, once again surpassing the 3.2% barrier. The provisional average for October is 3.216%, according to data published by euribor.com.es, a level significantly higher than the 2.187% of October 2025.
This rise has a direct effect on variable mortgages that are reviewed with the October data. For a mortgage of €150,000 over 25 years with a margin of 1%, the monthly payment will increase from €770.95 to €809.75 if the review is semi-annual, which means €38.8 more per month.
If the review is annual, the impact is greater: the payment will rise from €725.99 to €809.75, a change of €83.8 per month.
The Euribor is the interest rate at which major European banks lend money to each other. It is published daily and serves as a key reference within the financial system, especially in the eurozone.
In Spain, most variable mortgages are linked to this index, so when the Euribor rises, the monthly payment also increases; and when it falls, the amount to be paid decreases accordingly.
Although the Euribor is published daily, the value that usually appears in the news and affects mortgages is the monthly average of the 12-month Euribor, as there are other terms such as the 6-month Euribor or the 3-month Euribor that are used in variable mortgages in other European countries.
The next key date for mortgage holders is the meeting of the ECB Governing Council, scheduled for October 29 in Frankfurt, where it will be decided whether to maintain or change interest rates.
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