Where is the Euribor today?
The index almost every variable mortgage in Spain is tied to, with the official European Central Bank historical series and a calculator to see what happens to your payment if it rises or falls.
Monthly average of the 12-month Euribor, the value banks apply at mortgage reviews. The 2025 annual average was 2.22%, far from the recent peak of 3.87% (2023) and the all-time low of -0.49% (2021).
How does the Euribor affect your payment?
Enter your outstanding mortgage and spread: you'll see your payment at today's Euribor and what you'd pay if the index moves half a point or a full point.
| Scenario | Euribor | Your rate | Monthly payment | Difference |
|---|---|---|---|---|
| -1.0 points | 1.80 % | 2.80 % | 695.81 € | -79.47 €/month |
| -0.5 points | 2.30 % | 3.30 % | 734.94 € | -40.34 €/month |
| Today (Jun 2026) | 2.80 % | 3.80 % | 775.28 € | — |
| +0.5 points | 3.30 % | 4.30 % | 816.81 € | +41.53 €/month |
| +1.0 points | 3.80 % | 4.80 % | 859.5 € | +84.22 €/month |
Indicative calculation using the French amortization system with an immediate index reset. In a real mortgage, the new Euribor applies at your next review date (annual or semi-annual). Want the full calculation with taxes and costs? Use the mortgage calculator.
Monthly Euribor analysis
Full blog →What the Euribor is (and what it isn't)
The Euribor (Euro Interbank Offered Rate) is the average interest rate at which major European banks lend money to each other. It is administered by the European Money Markets Institute (EMMI) and published every business day. The term that matters for Spanish mortgages is the 12-month Euribor.
What affects your mortgage is not the daily value in the news but the monthly average: at each review (annual or semi-annual), your bank takes the average of the reference month agreed in your deed and adds your spread. That's why a one-day spike barely matters unless it moves the average. A good example was the 2025 Iran war, which left almost no trace on the index despite the noise.
If you're choosing between fixed, variable or mixed, we cover it in detail in the mortgage types guide, and you can see each bank's actual offers in the mortgage comparison.
Frequently asked questions about the Euribor
What is the Euribor value today? ▼
The latest published monthly average of the 12-month Euribor is 2.8% (Jun 2026), according to the official European Central Bank series. It is the value applied at variable-mortgage reviews.
When does my mortgage's Euribor update? ▼
At your review date, usually every 12 months (sometimes every 6). The bank takes the monthly Euribor average of the reference month agreed in your deed, adds your spread and recalculates the payment for the next period.
Why does the Euribor rise or fall? ▼
Mainly because of expectations about European Central Bank interest rates: if the market expects hikes, the Euribor rises in advance; if it expects cuts, it falls. Eurozone inflation is the underlying driver of those decisions.
Does the Euribor affect fixed mortgages? ▼
No. A fixed mortgage keeps the same payment for the whole life of the loan, whatever the Euribor does. It only affects variable mortgages and the variable phase of mixed ones.