12-month Euribor
Daily Euribor fixings, monthly averages and what they mean for your mortgage.
12-month Euribor was fixed at 3.108 % on 4 September 2026, down -0.001 pp compared with the previous business day. The average for September so far is 3.079 %; one year earlier the rate stood at 2.104 %.
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.
Last 12 months
Source: Bank of Finland. Published with a 24-hour delay.
Last 30 fixings
| Date | Rate | Change |
|---|---|---|
| 3.108 % | -0.001 pp | |
| 3.109 % | +0.041 pp | |
| 3.068 % | +0.039 pp | |
| 3.029 % | +0.026 pp | |
| 3.003 % | +0.022 pp | |
| 2.981 % | +0.025 pp | |
| 2.956 % | -0.051 pp | |
| 3.007 % | +0.018 pp | |
| 2.989 % | -0.004 pp | |
| 2.993 % | -0.010 pp | |
| 3.003 % | +0.013 pp | |
| 2.990 % | +0.013 pp | |
| 2.977 % | +0.021 pp | |
| 2.956 % | +0.019 pp | |
| 2.937 % | -0.002 pp | |
| 2.939 % | -0.004 pp | |
| 2.943 % | -0.014 pp | |
| 2.957 % | +0.044 pp | |
| 2.913 % | +0.008 pp | |
| 2.905 % | +0.007 pp | |
| 2.898 % | +0.014 pp | |
| 2.884 % | -0.046 pp | |
| 2.930 % | +0.003 pp | |
| 2.927 % | -0.012 pp | |
| 2.939 % | -0.025 pp | |
| 2.964 % | +0.006 pp | |
| 2.958 % | +0.017 pp | |
| 2.941 % | -0.002 pp | |
| 2.943 % | -0.039 pp | |
| 2.982 % | -0.011 pp | |
| 2.993 % | – |
Source: Bank of Finland. Published with a 24-hour delay.
Monthly averages, last 24 months
| Month | Average | Low | High | First | Last | Days | ECB avg |
|---|---|---|---|---|---|---|---|
| September 2026 * | 3.079 % | 3.029 % | 3.109 % | 3.029 % | 3.108 % | 4 | – |
| August 2026 | 2.954 % | 2.884 % | 3.007 % | 2.939 % | 3.003 % | 21 | 2.954 % |
| July 2026 | 2.855 % | 2.693 % | 2.993 % | 2.727 % | 2.964 % | 23 | 2.855 % |
| June 2026 | 2.798 % | 2.728 % | 2.874 % | 2.761 % | 2.728 % | 22 | 2.798 % |
| May 2026 | 2.803 % | 2.708 % | 2.883 % | 2.883 % | 2.804 % | 19 | 2.804 % |
| April 2026 | 2.747 % | 2.640 % | 2.872 % | 2.845 % | 2.848 % | 20 | 2.747 % |
| April 2025 * | 2.183 % | 2.099 % | 2.326 % | 2.277 % | 2.104 % | 13 | 2.143 % |
| March 2025 | 2.398 % | 2.306 % | 2.481 % | 2.365 % | 2.306 % | 21 | 2.398 % |
| February 2025 | 2.407 % | 2.350 % | 2.463 % | 2.436 % | 2.394 % | 20 | 2.407 % |
| January 2025 | 2.525 % | 2.448 % | 2.612 % | 2.448 % | 2.519 % | 22 | 2.525 % |
| December 2024 | 2.436 % | 2.348 % | 2.484 % | 2.431 % | 2.460 % | 20 | 2.436 % |
| November 2024 | 2.506 % | 2.393 % | 2.642 % | 2.629 % | 2.461 % | 21 | 2.506 % |
| October 2024 | 2.691 % | 2.547 % | 2.822 % | 2.749 % | 2.547 % | 23 | 2.691 % |
| September 2024 | 2.936 % | 2.747 % | 3.113 % | 3.072 % | 2.747 % | 21 | 2.936 % |
| August 2024 | 3.166 % | 3.088 % | 3.349 % | 3.349 % | 3.088 % | 22 | 3.166 % |
| July 2024 | 3.526 % | 3.390 % | 3.602 % | 3.567 % | 3.390 % | 23 | 3.526 % |
| June 2024 | 3.650 % | 3.575 % | 3.728 % | 3.722 % | 3.578 % | 20 | 3.650 % |
| May 2024 | 3.681 % | 3.628 % | 3.740 % | 3.696 % | 3.711 % | 23 | 3.680 % |
| April 2024 | 3.702 % | 3.648 % | 3.748 % | 3.669 % | 3.696 % | 22 | 3.703 % |
| March 2024 | 3.716 % | 3.658 % | 3.756 % | 3.744 % | 3.669 % | 21 | 3.718 % |
| February 2024 | 3.671 % | 3.505 % | 3.749 % | 3.505 % | 3.749 % | 21 | 3.671 % |
| January 2024 | 3.605 % | 3.513 % | 3.676 % | 3.513 % | 3.572 % | 23 | 3.609 % |
| December 2023 | 3.679 % | 3.513 % | 3.902 % | 3.902 % | 3.513 % | 19 | 3.679 % |
| November 2023 | 4.022 % | 3.926 % | 4.064 % | 4.044 % | 3.926 % | 22 | 4.022 % |
Source: Bank of Finland (daily fixings), ECB Data Portal (monthly averages). Published with a 24-hour delay. (*: n of about N business days so far)
Yearly averages
| Year | Average | Low | High | First | Last |
|---|---|---|---|---|---|
| 2026 | 2.842 % | 2.640 % | 3.109 % | 2.845 % | 3.108 % |
| 2025 | 2.400 % | 2.099 % | 2.612 % | 2.448 % | 2.104 % |
| 2024 | 3.280 % | 2.348 % | 3.756 % | 3.513 % | 2.460 % |
| 2023 | 3.869 % | 3.300 % | 4.228 % | 3.316 % | 3.513 % |
| 2022 | 1.122 % | -0.500 % | 3.325 % | -0.499 % | 3.291 % |
| 2021 | -0.490 % | -0.515 % | -0.443 % | -0.499 % | -0.498 % |
| 2020 | -0.306 % | -0.507 % | -0.053 % | -0.248 % | -0.499 % |
| 2019 | -0.217 % | -0.399 % | -0.108 % | -0.121 % | -0.249 % |
| 2018 | -0.173 % | -0.193 % | -0.117 % | -0.186 % | -0.117 % |
| 2017 | -0.145 % | -0.194 % | -0.083 % | -0.083 % | -0.186 % |
| 2016 | -0.034 % | -0.082 % | 0.060 % | 0.060 % | -0.082 % |
| 2015 | 0.167 % | 0.039 % | 0.323 % | 0.323 % | 0.060 % |
| 2014 | 0.475 % | 0.325 % | 0.621 % | 0.556 % | 0.325 % |
| 2013 | 0.536 % | 0.473 % | 0.622 % | 0.542 % | 0.556 % |
| 2012 | 1.108 % | 0.537 % | 1.937 % | 1.937 % | 0.542 % |
| 2011 | 2.009 % | 1.504 % | 2.201 % | 1.504 % | 1.947 % |
| 2010 | 1.352 % | 1.211 % | 1.546 % | 1.251 % | 1.507 % |
| 2009 | 1.610 % | 1.222 % | 3.025 % | 3.025 % | 1.248 % |
| 2008 | 4.826 % | 3.049 % | 5.526 % | 4.733 % | 3.049 % |
| 2007 | 4.449 % | 3.995 % | 4.885 % | 4.030 % | 4.745 % |
| 2006 | 3.440 % | 2.771 % | 4.028 % | 2.855 % | 4.028 % |
Source: Bank of Finland (daily fixings), ECB Data Portal (monthly averages). Published with a 24-hour delay.
Understanding this rate
Who uses the 12-month rate
The 12-month Euribor is the maturity most households in the euro area care about. It is the usual reference for the euríbor hipotecario in Spain, for Finnish asuntolainat, where it is the dominant viitekorko, for a large share of Portuguese crédito à habitação, and for the minority of French prêts à taux variable. Spanish and Portuguese contracts commonly use the monthly average of the fixing, published by the Banco de España and in the BOE, and by the Banco de Portugal respectively. Finnish contracts commonly use the fixing on the loan's own korontarkistuspäivä, its review date, once a year.
How it relates to ECB policy
Twelve months is long enough to contain all eight of the ECB's annual monetary-policy meetings. The fixing is therefore a blend of the current deposit facility rate, the market's expectation of every decision over the coming year, and a term premium for lending unsecured for a full year. It is the maturity most sensitive to a change in the outlook and the least sensitive to any single decision, because by the time a decision is made the 12-month rate has usually already moved to reflect it. This is why the 12-month rate can rise or fall for weeks while the ECB does nothing, and can barely react on the day of a change that was expected.
How a revision works with it
With an annual revision the arithmetic happens once a year. In Spain and Portugal the bank takes the published monthly average for the month the contract names, often the month before the revision, adds the diferencial or spread, and applies the total to the outstanding balance over the remaining term for the next twelve months. Some Spanish contracts revise every six months on the same 12-month reference. In Finland the bank reads the 12-month fixing on the review date, adds the marginaali and fixes the rate for the following year; there is no averaging, so the day matters.
In every case the rate you pay for the coming year is set by one reading of the reference. A revision that lands on a high reading is paid for a full year; so is one that lands on a low one.
What to compare it with
The 12-month rate is best read against the 1-week rate at the other end of the curve. The gap between them is the market's expectation for the year ahead plus the term premium: a 12-month rate well above the 1-week rate means the market is pricing rises, well below means it is pricing cuts, and close together means it expects little change. On 4 September 2026 the 1-week fixing was 2.154 % and the 12-month fixing 3.108 %. The 6-month rate, at 2.794 %, shows the same expectation for half the horizon. The month pages on this site list the monthly averages of the 12-month rate for the last five years, the figures Spanish and Portuguese revisions actually use, and the year pages go back to 1999.
A worked example
Take a Spanish mortgage with 150,000 euros outstanding, twenty years remaining, and a rate of 12-month Euribor plus a diferencial of 0.90 percentage points, revised annually on the monthly average. As a stand-in for the monthly average, use the fixing of 4 September 2026, 3.108 %. The new rate is 3.108 % plus 0.90 points, applied to 150,000 euros over twenty years with the annuity formula. That gives the instalment for the next twelve months. A year later the bank repeats the calculation with the new average and the reduced balance. Each tenth of a point of movement in the reference changes the interest component by about 12.50 euros a month on that balance; a full point changes it by about 125 euros.
What to check in your contract
Which month's average is used, or, in Finland, the exact review date; the revision frequency, annual or semi-annual; the spread and any condition that changes it; and any floor or cap. Spanish borrowers can also check which official publication the contract cites, the BOE or the Banco de España.
What does it mean for a mortgage?
What does it mean for a mortgage?
Annuity formula; assumes the rate applies for the whole remaining term. Your bank may round or use a different convention.
Frequently asked questions
What is the 12-month Euribor today?
On 4 September 2026 the 12-month Euribor was fixed at 3.108 %. Fixings are published each TARGET2 business day; this site shows them with a 24-hour delay.
Is the 12-month Euribor going up or down?
Against the previous fixing it moved down -0.001 pp; over one year it went from 2.104 % to 3.108 %. The monthly average so far is 3.079 %.
Which mortgages use the 12-month Euribor?
Contracts choose one maturity as their reference; the 12-month rate dominates in Spain, Portugal and Finland, the 3-month rate in Italy and Austria, the 1-month rate in the Netherlands. The reference is fixed plus the spread agreed with the bank.
Where does the data come from?
Daily fixings from the Bank of Finland's published series, monthly averages cross-checked against the ECB Data Portal. Nothing is fetched from EMMI directly.
Which mortgages use 12-month Euribor?
It is the dominant mortgage reference in Spain, Portugal and Finland, and appears in French variable loans and in some Italian and Portuguese contracts. Spanish and Portuguese contracts commonly use the monthly average; Finnish contracts use the fixing on the loan's review date. Its fixing on {date} was {rate_month_12}.
How does an annual revision on 12-month Euribor work?
Once a year, on the date the contract sets, the bank takes the 12-month Euribor reference, the monthly average of a named month in Spain and Portugal or the day's fixing in Finland, adds the spread and applies the result to the outstanding balance for the next twelve months. Semi-annual revisions on the same maturity work the same way, twice a year.
Why does 12-month Euribor move when the ECB has not changed rates?
Because a twelve-month loan spans a full year of monetary-policy meetings, its price is built from expectations about all of them, not from the current deposit facility rate alone. When those expectations shift, the fixing moves, often well before any decision. On {date} the 12-month fixing was {rate_month_12} against {rate_week_1} for one week.