The 12-month Euribor rises this Thursday, September 3, to 3.109%, 41 basis points more than the 3.068% recorded on Wednesday. The main reference index for variable mortgages thus surpasses the 3.1% barrier and chains three consecutive advances since the beginning of the month.
September started with a 3.029% on Tuesday, advanced to 3.068% on Wednesday, and now reaches 3.109%. With these three values, the provisional average for the month stands at 3.069%.
The figure represents a new advance compared to the levels with which August ended. The Bank of Spain confirmed this week that the monthly average for August was 2.954%, compared to 2.855% in July.
Three consecutive increases in September
The Euribor has started September with a clearly upward trend. From the 3.029% on the first day of the month to the 3.109% this Thursday, the index has increased 80 basis points in three sessions.
The provisional average, at 3.069%, is already 0.115 percentage points above the 2.954% of August. The comparison, however, should be taken with caution: September has only accumulated three trading days and there is still almost the entire month left to determine the definitive reference.
The movement also consolidates the Euribor above 3%, a level it had already reached at the end of August. The last daily figure for that month, corresponding to August 31, was 3.003%.
August officially closed at 2.954%
The Bank of Spain confirmed on September 1 that the one-year Euribor reached an average of 2.954% in August, compared to the 2.855% recorded in July.
In year-on-year terms, the reference is 0.840 percentage points above August 2025, when it stood at 2.114%.
The figure of 2.954% is now the official reference after its publication in the Official State Bulletin (BOE) this Wednesday. This figure corrects the provisional calculations that during the last days of August placed the average a few basis points below.
What it means for variable mortgages
The daily Euribor figure allows tracking the direction of the index, but the 3.109% this Thursday does not directly translate to the payment of a mortgage. For revisions, the monthly average corresponding to the period established in the contract is usually used.
For those reviewing their loan using the August data, the reference will be 2.954%. Being 0.840 points above the level of a year ago, the mortgages with annual review linked to August will face a higher reference than in their previous update.
The concrete impact will depend on the capital remaining to be repaid, the pending term, the differential agreed with the bank, and the frequency of the review.
In the case of September, we will still have to wait until the end of the month to know the definitive average that will later be published by the Bank of Spain.
The Euribor accelerates since the beginning of the year
The evolution of the last months shows the change experienced by the index during 2026. The twelve-month Euribor recorded an average of 2.245% in January and dropped slightly to 2.221% in February.
Since then, it advanced to 2.565% in March, 2.747% in April, and 2.804% in May. In June it stood at 2.798% and in July it rose again to 2.855%.
August finally closed at 2.954%, the highest level of 2026 up to that moment. The first data from September point even higher, with a provisional average of 3.069%, although its evolution may change over the next few weeks.
The market looks at interest rates
The trajectory of the Euribor is closely linked to market expectations about the monetary policy of the eurozone. The movements that investors anticipate for interest rates are transferred to the interbank market and, with it, to the evolution of the index.
Inflation data, economic outlook, and upcoming monetary policy decisions will be decisive to see if the Euribor consolidates during September the levels above 3% with which it has started the month.