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4h ago

Euribor Edges Up to 2.224% as September Hits Six-Month High

Analysts link the shift to the ECB’s 2% policy rate, increasing pressure on upcoming variable‑rate mortgage resets.

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Overview

  • The daily Euribor fixed at 2.224% on Oct. 3, matching Thursday’s level after a modest midweek rise.
  • September closed with a 2.172% monthly average, the highest since March and 0.058 points above August.
  • The recent increase is set to raise payments for borrowers facing imminent reviews of variable‑rate mortgages.
  • Market commentary points to the ECB holding its policy rate at 2% as a driver of uncertainty over further cuts, nudging interbank rates higher.
  • Lenders are promoting variable mortgages with varied spreads over the benchmark, including Banco Mediolanum (+0.79%), Kutxabank (+0.49%), Unicaja (+0.55%) and Ibercaja (+0.60%).