September leaves two news for mortgages; A bad and a good one. First, the bad: The Euribor a yearwhich is the index used to calculate the interest of variable mortgages, will close the month with an average value of around 2.17%, which represents a slight rebound with respect to its August registration (2,114%). This little climb comes after the decision of the European Central Bank of maintaining their types without changes per second consecutive meeting and is a change in trend after more than a year of descents.
But there is also good news. According to the Financial Comparator Mortgage Analyst Helpmycash.com, Miquel Riera, Mortgages reviewed with this new value will be reduced Despite the rebound of the Euribor. “Average, These mortgages will pay about 740 euros less a year”Explains the expert.
Sale of quotas despite the slight rebound
From the comparator they remember that The interest of a variable mortgage is usually reviewed every six or 12 monthsdepending on what is stipulated in the contract. When the update date arrives, the bank recalculates the type applied with the last published monthly value of the Euribor. If this has risen to the previous review, the quotas will increase, while if it has dropped, the monthly payments will be reduced.
Fortunately for the mortgages, explains Riera, he EURIVOR It will close the month of September with a value lower than last year (2,936%) and that of six months ago (2,398% in March). Consequently, the variable mortgages that are reviewed in the coming months will have cheaper quotas; especially those that are updated annually.
Let’s put, for example, that a person has signed a average variable mortgage From 150,000 euros to 25 years with an interest of Euribor plus 1%. If you are reviewed annually With the September value of the index, its fees will drop from 787 to approximately 725 euros; some 62 euros less per month (almost 742 euros a year). AND If the update is semiannualmonthly payments will descend from 743 to 725 euros; some 18 euros less a month (about 108 euros to the semester).
This savings can be different depending on the conditions that the loan has. With the HelpmyCash Mortgage Review Simulator It can be calculated how much the quota will lower in each specific case, depending on the pending amount and term and the interest applied.
New tendency for the new ECB policy
Although it does not harm the mortgages, the comparator analyst, Miquel Riera, says The Euribor has changed the trend. “This index had been registering declines for more than a year and, in fact, it was reduced from 2,525% to 2,079% between January and July 2025,” he explains. But in August there was a turning point: “The Euribor rose slightly, from 2,079% to 2,114%, and in September another slight rebound has been recorded.”
But why has the Euribor stopped going down? According to Riera, the reason must be sought in the nEUVA POLICY OF TYPES OF THE EUROPEAN CENTRAL BANK. This index, which represents the interest to which the main banks of the continent lend money between them, keeps a close relationship with the types that the ECB applies to the credits granted to the financial entities: if they go up, the Euribor rebounds, while descending if they go down.
Between June 2024 and June 2025, the European Central Bank applied eight cuts in its interest rates, so the Euribor collapsed during that period. But the supranational body has maintained them No changes in his latest meetings in July and September. The index, consequently, has stopped down and has even rebounded slightly.
Reactivation of hiring new mortgages in Spain
In the case of the new firms, “the reactivation obeys, above all, to which Financing is again cheaper and the bank competes aggressively by capturing mortgages. The ECB cuts have given the entitys to lower your loans; From there the competition is unleashed: With a lower financing cost, banks adjust prices to earn fee And that adds fuel to hiring, ”explains Olivia Feldman, co -founder of Helpmycash.
It also weighs the dynamics of the housing market: with upward prices and tensioning rentals in large cities – a trend documented by the Bank of Spain – many buyers They advance the decision not to stay out or for fear of paying more tomorrow; That effect “better today than tomorrow” pushes demand and, by extension, the mortgage firm, points the expert of Helpmycash.
To this is added a somewhat more favorable macro and work environment: several sectors of the economy have evolved well, which reinforces the trust of households to assume long -term debts. There is no euphoria, but a perception of greater stability that encourages to buy.
No big changes until the end of the year
A priori, Great movements are not expected in the types of the European Central Bank For the coming months. Today, most forecasts suggest that this agency will maintain its interests without changes during the remainder of the year or that, at most, it will apply a single more cut, depending on how inflation and the economic situation of the euro zone evolve.
Therefore, according to HelpmyCash analyst, Miquel Riera, the forecast is that the Euribor does not vary much during the final stretch of 2025. “Most likely, the year ends with a value of between 2.10% and 2.20%,” explains EThe expert. Riera states that “that will be positive for mortgages at a variable type, whose interest will be calculated with an index in historically reduced records, but those who prefer stability also have the option of moving to a fixed competitive type of around 2%.”
