July 3, 2026

The Euribor closes June 2026 at 2.80%: what it means for your mortgage

Monthly Euribor analysis: the June average rises to 2.80%, marking several consecutive months of increases and making annual rate reviews more expensive. What to expect and how to calculate your new payment.

The monthly average of the 12-month Euribor for June 2026 came in at 2.80%, according to the official series from the Banco Central Europeo (European Central Bank). The index thus consolidates the gentle upward trend it has carried through 2026: the partial average for the year stands at around 2.56%, above the 2025 average of 2.22%.

The figure in context

  • June 2026: 2.80% (monthly average)
  • Partial average for 2026: ~2.56%
  • Annual average for 2025: 2.22%
  • Peak of the previous cycle: 3.87% (2023)
  • All-time low: −0.49% (2021)

The index is far from 2023 levels, but it is no longer falling: since late 2025 the market has been scaling back expectations of quick ECB rate cuts, and the Euribor reflects it month after month. We remain, that said, in a historically moderate range.

What it means if your mortgage is being reviewed now

If you have a variable-rate mortgage with an annual review referenced to the June average, your new interest rate will be calculated as 2.80% plus your spread. For a typical mortgage of €150,000 outstanding over 25 years with a 1% spread:

  • Payment with the Euribor from a year ago (around the 2025 average): about €729/month
  • Payment with the June 2026 average (3.80% interest rate): about €775/month

In other words, an increase of around €45-50 per month at the annual review for that profile. Every case depends on the outstanding capital, the remaining term and the spread: you can calculate yours in a minute with the Euribor impact calculator or simulate the full operation in the mortgage calculator.

What about the next reviews?

Nobody knows where the index will be a year from now — and be wary of anyone who assures you they do. What the market is pricing in today is stability with slight upward pressure as long as the ECB keeps rates at current levels. Two practical ideas:

  1. If your review is coming up in the next few months, expect a somewhat higher payment and adjust your budget in advance.
  2. If you are considering switching from variable to fixed or mixed, compare calmly: in our guide to mortgage types we explain when each option pays off, and in the mortgage comparison you have the current offers from each bank.

Notice: this analysis is informational content, not financial advice. The data comes from the official ECB series and can also be consulted at the Banco de España and at EMMI, the index administrator.