1-month Euribor

1-month Euribor was fixed at 2.364 % on 4 September 2026, up +0.043 pp compared with the previous business day. The average for September so far is 2.302 %; one year earlier the rate stood at 2.134 %.

Euribor is the rate at which euro-area banks lend to each other for a fixed term, published every TARGET2 business day by the European Money Markets Institute. This site republishes the Bank of Finland's copy of the fixings with a 24-hour delay, which is why the newest date is usually yesterday's.

Variable-rate mortgages across Europe are priced as this fixing plus a fixed spread. When the fixing moves, the payment moves at the next revision date written in the loan contract, and the direction that matters to a borrower is simple: up.

Every number on this page is a published fixing, not an estimate: daily values come from the Bank of Finland's copy of the Euribor series, monthly averages are the arithmetic mean of those fixings and are cross-checked against the ECB Data Portal, and the tables are rebuilt each business day after the previous day's fixing appears. Tenors use the ACT/360 convention. Where a monthly average differs from the ECB figure by more than a hundredth of a point the methodology page lists the case.

Understanding this rate

Who uses the 1-month rate

The 1-month Euribor is the rate at which banks lend to each other unsecured for one month. In household lending it is the reference for Dutch hypotheken with a variabele rente, which commonly reset every month on 1-month Euribor plus an opslag, and it appears in a share of Italian mutui a tasso variabile as an alternative to the 3-month rate. Outside those markets it is mainly a corporate and treasury rate, used for short-term credit lines and floating-rate instruments that reset monthly.

How it relates to ECB policy

One month is short enough that the market rarely expects more than one ECB decision inside the period, and often none. The 1-month fixing therefore tracks the deposit facility rate closely, with a small margin for the unsecured nature of the lending, and it steps up or down within days of a policy change. In the weeks before a meeting at which a change is widely expected it drifts part of the way in advance, since a one-month loan taken out just before the meeting spans the new rate for most of its life.

For a borrower on a monthly reset this means the instalment follows policy with a lag of one or two months, which is the fastest transmission of any common mortgage convention.

How a revision works with it

A monthly reset is mechanically simple. The contract names the day of the month or the averaging period used, the bank reads the 1-month Euribor on that basis, adds the spread and applies the total to the outstanding balance for the coming month. Because the reference is refreshed so often, each individual change is normally small, and the rate you pay is never far from the current fixing. The flip side is that there is no period of certainty: the rate for next month is not known until next month's reference is read.

What to compare it with

The natural comparisons are the 1-week rate below it and the 3-month rate above it. The 1-week fixing shows the pure policy anchor; if the 1-month rate is noticeably above it, the market is pricing a rate rise within the month, and if below, a cut. The 3-month rate, the reference for Italian, German and Austrian variable loans, tells you what a quarterly reset would have delivered instead of a monthly one. On 4 September 2026 the fixings were 2.154 %, 2.364 % and 2.679 % for the three maturities.

A worked example

Take a Dutch mortgage with 200,000 euros outstanding, twenty-five years remaining, and a rate of 1-month Euribor plus an opslag of 1.20 percentage points, reset monthly. Using the fixing of 4 September 2026, 2.364 %, the rate for the coming month is 2.364 % plus 1.20 points, applied to 200,000 euros over twenty-five years with the annuity formula. Next month the bank repeats the calculation with the new fixing and the slightly lower balance. If the fixing rises by a tenth of a point between two months, the interest component of the instalment rises by roughly 17 euros on that balance; if it falls by the same amount, it falls by about the same.

What to check in your contract

For a 1-month reference the details that matter are the reading date or averaging period, whether the reference is floored at zero, which some contracts specify, and whether the opslag or spread can change at a fixed-period renewal. Those three items, with the balance and the term, determine the instalment.