Euribor Surges to 2.95%, Variable Mortgages Take Hit
The Euribor, a key interest rate indicator in Europe, has hit its highest level since September 2024, reaching 2.95% in August. This increase is significant, as it surpasses the 2.855% recorded in July and marks the second consecutive month of growth for the index.
The Euribor's rise will have a direct impact on households with variable mortgages in Spain, making their loan payments more expensive. According to Roams, an annual review would result in an additional 65 euros per month, or around 780 euros annually, for a mortgage of 150,000 euros over 25 years with a differential of one percentage point over the Euribor.
Laura Martínez, spokesperson for the mortgage broker iAhorro, believes that the recent behavior of the indicator reflects expectations about interest rates and the potential tightening of monetary policy by the European Central Bank. The market is closely monitoring each new signal from the ECB, which has not yet confirmed whether there will be new interest rate hikes.