Euribor ends October at 3.239%: mortgages still dearer

The 12-month Euribor averaged 3.239% in October, a fraction lower than September and the first dip after three months of rises. A year ago it stood at 2.187%, so mortgages reviewed in October are getting dearer.

According to RTVE’s calculation, for a typical variable mortgage of €150,000 over 25 years at Euribor + 1%, the monthly payment rises by more than €85 after the review, about €1,028 a year. The index stays above 3%, and the ECB’s decision on 29 October to leave rates unchanged gave it no real room to fall.

The analysts’ forecasts quoted by RTVE differ: some expect 3.5–3.7% by the end of 2026 because of expensive energy, others a range of 2.8% to 3.5%. For home buyers on the Costa Blanca, choosing a fixed or mixed rate remains a matter of calculation, not guesswork: before signing, compare bank offers and check how the payment would change at each review.