The Euribor awaits the ECB below 3% and with better forecasts

The Euribor awaits the ECB below 3% and with better forecasts

The Euribor continues to bring joy to mortgage holders. After ending August with the biggest fall in more than a decade, the benchmark indicator for most variable mortgages in Spain awaits the meeting to be held on September 12 by the European Central Bank (ECB) below 3%. marking lows since December 2022.

According to data from the Bank of Spain, the Euribor in the daily rate fell below the 3% barrier last Monday, after remaining at 2.986%, and has maintained the downward trend in the following two days, until it stood at 2.960% on September 11.

 

12-month Euribor at daily rate

20202021202220232024−1,000,001,002,003,004,005.00%
2,96%
Source: Bank of SpainDownload the dataCreated with Datawrapper
 

At the moment, the provisional average for September stands at 3.04%, while the historical average falls to 1.889%.

The recent fall in the mortgage indicator comes as the market is pricing in the fact that the eurozone's top monetary and financial authority is going to announce a 25 basis point interest rate cut at this week's meeting. If this forecast is fulfilled, the price of money will rise to 4%, half a point below the level it recorded until the drop announced in June, the first in eight years.

In addition, the forecasts of experts on how the Euribor will behave in the coming months are also coming down. The consensus of experts that encompasses the Funcas Panel, which includes research services from banks, employers' associations, large companies, and institutes and study centers, estimates that the 12-day Euribor will end the year at about 2.8%, half a point below what it forecast in July. and that it would fall to 2.5% by the end of 2025. Against the backdrop, the consensus expects a steeper decline in rates than it estimated two months ago. 

Up to six rate cuts until 2025

Currently, the market is discounting up to six additional decreases in the price of money until the end of 2025. If forecasts are met, there will be a cut of 25 basis points per quarter, which will bring interest rates below 3% by the end of next year. 

Despite the fact that discrepancies have arisen in recent weeks among the members of the ECB's Governing Council, everything indicates that at the meeting on 12 September the ECB will cut rates again, coinciding with the update of its economic and inflation forecasts. Changes are also expected from the US Federal Reserve, which meets a few days later.

Latest news
© 2026 Inmopuerto Mediterráneo - All Rights Reserved
Manage consent

We use our own and third-party cookies to personalize the web, analyze our services and show you advertising based on your browsing habits and preferences. For more information visit our Cookies Policy

Accept cookies Configuration Reject cookies