Euribor Hits Highest Level Since 2024 as Spanish Mortgage Holders Face Higher Payments

The Euribor rate, which affects most variable-rate mortgages in Spain, has reached its highest level since September 2024. According to the Bank of Spain, it closed July at 2.855%, a 6 basis point increase from June and 77 basis points higher than July 2025.

This means that a mortgage holder with a €150,000 loan for 30 years will see their monthly payment increase by €64.78, which translates to an additional €777.36 per year.

Experts point out that the Euribor is following an upward trend and may anticipate an interest rate hike by the European Central Bank (ECB) in autumn.

Kelisto estimates that the Euribor could end 2026 between 2.5% and 2.7%, but if inflation continues to rise, it could reach 3% or more.