Euribor Surges to Highest Level Since September 2024

The Euribor rate has reached its highest level since September 2024, closing at 2.855% in July.

This increase means that variable mortgage holders will face higher monthly payments, with a 150,000 euro loan for 30 years seeing an additional 64.78 euros per month, or 777.36 euros annually.

The Euribor has been steadily rising since the beginning of July, and experts predict it could reach 3% by autumn, potentially leading to higher interest rates in the European Central Bank's (ECB) upcoming decisions.

While some analysts believe a de-escalation in energy prices could lead to a Euribor range between 2.5% and 2.7% by year-end, others caution that continued inflation and rate hikes could push the index closer to 3%.