The twelve-month Euribor will close April around 2.742% (with one data point pending to close the month), which is its highest level since the end of 2024 and confirms the trend change started in March. The indicator rises 0.177 points compared to the previous month and 0.599 points compared to the same period in 2025, when it stood at 2.143%. This increase consolidates a scenario of credit cost increase after months of stability, in a context marked by geopolitical uncertainty and inflation expectations.
Read more Only Elon Musk can remove Elon Musk as chairman of SpaceX
The impact on households will be immediate. An average mortgage in Spain, with an initial amount of 170,000 euros, a term of 25 years, and a differential of 0.65 + Euribor, will see its payment increase by about 52 euros per month, about 624 euros more per year. The estimate is based on a loan at the beginning of its life, when the effect of the interest rate increase on the monthly payment is greater. Mortgages with semi-annual review will also become more expensive.
In March, as a consequence of the conflict between the United States and Israel against Iran, the indicator soared to 2.532%, recording its largest monthly increase in more than three years (January 2023), rising by 0.32 percentage points.
As a result, variable mortgages became more expensive for the first time since April 2024. The trend has continued this month, although more moderately.
Read more The Pentagon estimates the cost of the war in Iran at 25 billion dollars
Forecasts
The Euribor will move between 2.2% and 2.5%
Looking ahead to the coming months, forecasts point to some stability at similar levels. Estimates from various entities place the Euribor between 2.23% and 2.45% for the end of 2026, although its evolution will depend on inflation and the decisions ultimately made by the European Central Bank (ECB). In any case, the low growth of the eurozone, linked to the expectation that the Middle East conflict will stabilize, suggests restraint in rate hikes.
Despite this, Kelisto spokesperson Pedro Ruíz warns that if the Euribor remains at current levels, “we will see more increases in the payments of variable mortgages that are reviewed over the coming months.” Ruiz also emphasizes that the indicator “rose in April […] although that increase is tricky,” being conditioned by statistical factors and a certain “relaxation of the international context.”
Likewise, the rise in the Euribor also affects new fixed-rate mortgages being signed. According to Laura Martínez, spokesperson for iAhorro, “several entities have raised their offers,” although some banks “have improved” the conditions of their mixed-rate loans (with a fixed period and a variable one).
Read more Ukraine forces Russia to hold the Victory parade without heavy weaponry
