Euribor closed October at around 3.23%, a tenth lower than in September, but still over a point higher than a year ago. The revisions for variable mortgage holders will continue to rise.
The euribor closed October at around 3.23%, compared to 3.247% in September, according to economia3.com. The decrease is moderate and does not prevent many holders of variable mortgages from seeing their payments increase in the upcoming revisions.
The comparison with the previous year explains much of the problem. In October 2025, the index was at 2.187%, more than one percentage point below the current level, meaning that those updating their loans in November will notice the change.
According to the financial comparator Kelisto, mortgages with annual reviews could become more expensive by about €100 per month, which amounts to nearly €1,200 per year. For semi-annual reviews, the estimated increase is around €46 per month.
The European Central Bank kept interest rates unchanged at its meeting on October 29. The decision does not clarify the trajectory of monetary policy in the coming months.
Inflation in the eurozone reached 3.8% in September, driven by rising energy costs. Some analysts do not rule out that the euribor could approach 3.4% again before the end of the year, provided inflationary pressures continue and the ECB tightens its policy.
In the last sessions of October, the index rose again, so the monthly decrease alone does not indicate the start of a sustained reduction.
In the case of fixed-rate mortgages, the average interest rose from 1.98% in February to 2.44% in September, according to data from the comparator iAhorro. Mixed mortgages combine an initial fixed period with a later part linked to the index, so it is also advisable to review the duration of the loan and the scenarios for interest rate evolution.
Entities usually intensify their campaigns in the last quarter of the year. The conditions they offer will depend on income, job stability, available savings, and the ratio between the requested amount and the value of the property.
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