The 12-month Euribor fell to 3.303% on October 1, 2026. The drop offers little relief because October's monthly average is already above September's figure.
On 25 September 2026, the 12-month Euribor reached 3.379%, its highest level since July 2024. It later eased to 3.329% on 30 September. The opening figure used here is lower, at 3.303%.
The rate fell 0.026 points from the previous session. It was the lowest value in the latest update. For households with variable-rate mortgages in Spain, the index matters because lenders use it to calculate interest at scheduled reviews.
The short-term picture is mixed. October's average is 3.303%, which is 0.056 points above September's 3.247%. That difference can affect a borrower's instalment when the lender reviews the loan. The result depends on the latest Euribor figure and the rate used six or twelve months earlier.
The 12-month Euribor reached 3.379% on 25 September 2026, its highest level since July 2024, according to Spanish market reports.
Thursday's reading follows a sharp rise over recent months. August averaged 2.954%, while July stood at 2.855% and June at 2.798%. May closed at 2.804%. April was 2.747%, and March was 2.565%.
The index stood at 2.267% in December 2025 and 2.187% in October 2025. Those figures show how far the rate has moved.
September began at 3.029%. The rate reached 3.379% on 25 September before falling to 3.329% on 30 September. Other readings included 3.068% on 2 September, 3.160% on 11 September, and 3.374% on 16 September.
Separate monitoring reports recorded a further easing to around 3.329% on 1 October after late-September readings above 3.37%. This article uses the opening figure of 3.303%.
For mortgage holders, yesterday's rate is not the only issue. Variable-rate loans are reviewed under the timetable in each contract. Some are reviewed every six months. Others are reviewed once a year.
The lender compares the applicable Euribor reading with the figure from the previous review period. It then adjusts the payment. The Banco de España notes that the official mortgage index is published after the relevant calculation period and becomes official through the Boletín Oficial del Estado.
Secondary reports cite September’s monthly average as either 3.247% or 3.251%. The difference appears to reflect preliminary and later or revised publications, so borrowers should rely on the figure used in the official publication for their contract review.
Euribor stands for Euro Interbank Offered Rate. It reflects the interest rate at which major European banks lend to one another for different maturities. Published terms include one week, one month, three months, six months, and twelve months.
The 12-month rate has been the main reference for Spanish mortgages since 1 January 2000. The European Central Bank's banking-interest-rate statistics provide the wider euro-area setting for these market rates and mortgage costs.
The link to household finances is direct. Around 75% of Spanish mortgages are tied to the indicator, and its movements affect more than 4 million households according to the supplied data. An earlier grocery comparison also showed why unrelated savings decisions draw attention, as seen in the earlier grocery comparison.
The rate is calculated from Monday to Friday at 11:00. Spain then publishes it through the Boletín Oficial del Estado. The first October reading is only the month's starting point. It is not a completed monthly trend.
One daily fall does not change the broader mortgage picture. The 3.303% reading offers short-term relief, but the higher monthly average keeps borrowing costs above September's level. For Spanish households, the decisive figure will be the rate used at their contractual review and its comparison with the previous six or twelve-month benchmark.
