The 12-month Euribor has risen in its daily rate to 3.308%, placing the provisional October 2026 average at 3.235%. This figure, boosted after the European Central Bank's decision to keep interest rates frozen, will directly increase costs for those who need to revise their variable mortgage with this month's data once it becomes official.
Show the data
| Item | % |
|---|---|
| sept 2025 | 2.17 % |
| oct 2025 | 2.19 % |
| nov 2025 | 2.22 % |
| dic 2025 | 2.27 % |
| ene 2026 | 2.25 % |
| feb 2026 | 2.22 % |
| mar 2026 | 2.57 % |
| abr 2026 | 2.75 % |
| may 2026 | 2.8 % |
| jun 2026 | 2.8 % |
| jul 2026 | 2.86 % |
| ago 2026 | 2.95 % |
| sept 2026 | 3.25 % |
Source: Banco de España
What's Changing
The interbank market reflects a daily rise of 0.018 points, taking the index to 3.308%, its highest level in four weeks. With 21 sessions accounted for by the European Money Markets Institute (EMMI), the provisional monthly average for October 2026 stands at 3.235%.
Although this value represents a slight reprieve compared to the September 2026 figure (set by the Bank of Spain at 3.247%), the year-on-year comparison is what determines the payments: in October 2025, the official Euribor stood at 2.187%. This represents an increase of 1.048 percentage points in twelve months.
To understand the impact on your finances, here's an illustrative example: for a standard 150.000 euros mortgage over 25 years with a Euribor + 1% differential, the monthly payment goes from around 726 euros to almost 815 euros. This represents an approximate increase of 89 euros each month, exceeding 1.000 euros in annual additional cost.
Who it Affects
The increase in cost exclusively affects those who already have a variable-rate mortgage loan and whose contract stipulates an annual review linked to the October value. If your loan is reviewed semi-annually or has a fixed rate, this figure will not alter your payment.
It also indirectly affects those looking to buy a property in regions such as Vallès Occidental, Vallès Oriental, or Moianès. Financial institutions use the evolution of Euribor to adjust the differentials of their variable offers and to calibrate the prices of their mixed and fixed mortgages for the final quarter of the year.
What it Means if You Own a Property in Catalonia
Monetary policy and reference indices depend exclusively on the European Central Bank and the Bank of Spain, regulated by Law 5/2019 on real estate credit. The Generalitat de Catalunya does not have the authority to cap or modify interest rates, and declarations of stressed residential market areas only apply to limiting rental income, without intervening in mortgage payments.
Nevertheless, the financial burden is more pronounced in the Catalan market due to property prices and the capital requested. According to the National Institute of Statistics (INE), in August 2026, 6.248 mortgages were constituted on properties in Catalonia, with an average amount subscribed across Spain of 181.285 euros. When financing amounts higher than the average in high-demand municipalities like Sabadell, Terrassa, Granollers, or Sant Cugat, the increase in monthly payments comfortably exceeds 110 or 120 euros per month for loans formalised in the last cycle.
What to Do Now
If you have a variable-rate mortgage or are in the process of buying, it's advisable to take three specific steps:
- Review your loan deed: check which month your bank uses as a reference (many November reviews apply October or September data) and if there's a rounding clause or minimum rate.
- Calculate your debt-to-income ratio: if the revised payment compromises more than 35% of your household's net income, it's a priority to contact the institution before incurring defaults to propose a novation or grace period according to the Code of Good Practices.
- Compare change options: you can propose a novation (modification with your own bank) or a subrogation by change of creditor (transferring the mortgage to another institution) towards fixed or mixed rate options to set a predictable cost.
What is Still Unknown
The current figure of 3.235% is still provisional: the last trading session of October is yet to be computed to determine the exact monthly average. Furthermore, this value has no contractual legal validity until the Bank of Spain formalises its definitive resolution and it is published in the Official State Gazette (BOE), a process that will take place during the first working days of November 2026.
Frequently asked questions
The change applies from the payment following the publication of the index in the BOE. In most contracts with an annual review referenced to October, the adjustment is reflected between the November and December payments, according to the wording of the deed.
Sources
Data and regulations consulted for this article.
