6-month Euribor

6-month Euribor was fixed at 2.794 % on 4 September 2026, up +0.005 pp compared with the previous business day. The average for September so far is 2.783 %; one year earlier the rate stood at 2.154 %.

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 6-month rate

The 6-month Euribor is the middle of the curve. In household lending it is above all a Portuguese reference: a large share of crédito à habitação contracts use it as the indexante, with the rate reset every six months and the prestação recalculated at each reset. It also appears in some Spanish variable mortgages with a semi-annual revisión, in some Italian contracts, and in floating-rate corporate lending where a six-monthly reset is preferred. The Banco de Portugal publishes the monthly averages that Portuguese banks apply.

How it relates to ECB policy

Six months covers roughly half of the ECB's eight annual meetings, so the fixing reflects the deposit facility rate today plus the market's expectation of the next three or four decisions. It moves in advance of expected changes, as the 3-month rate does, but responds to shifts in expectations further out that the 3-month rate barely registers. It also carries a somewhat larger term premium, the extra return a lender wants for committing unsecured funds for half a year.

How a revision works with it

The Portuguese convention is straightforward: at each six-monthly reset date the bank takes the reference the contract names, commonly the monthly average of 6-month Euribor for the month before the reset, adds the spread and applies the total to the outstanding balance over the remaining term. The result is the new prestação, fixed for the next six months. Because the reference is the monthly average, the value is known once the month closes, so the new instalment can be worked out before the reset date. Spanish contracts on a semi-annual revisión work the same way, with the Banco de España's published monthly average as the reference.

What to compare it with

Compare the 6-month rate with the 3-month rate on one side and the 12-month rate on the other. When the three are close together the market expects policy to be stable; when they fan out, upward or downward, it expects change. On 4 September 2026 the fixings were 2.679 % for three months, 2.794 % for six and 3.108 % for twelve. The month pages on this site give the monthly averages of the 6-month rate for the last five years, which is the figure Portuguese contracts most often reference.

A worked example

Take a Portuguese loan with 120,000 euros outstanding, twenty-five years remaining, and a rate of 6-month Euribor plus a spread of 1.00 percentage point, reset every six months on the monthly average. As a stand-in for the monthly average, use the fixing of 4 September 2026, 2.794 %. The rate for the coming six months is 2.794 % plus 1.00 point, applied to 120,000 euros over twenty-five years with the annuity formula to produce the prestação. Six months 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 10 euros a month on that balance.

What to check in your contract

Which month's average is used, since a contract may specify the month before the reset or an earlier one; the exact reset dates; the spread, and whether it depends on keeping other products with the bank, which some contracts require; and whether any floor applies. Those items, with the balance and the term, let you check the bank's prestação with the calculator on this site.