“Variable-Rate Mortgages Soar as One-Year Euribor Reaches 3.86%”

The one-year Euribor closed at 3.86% in May and makes variable-rate mortgages more expensive, which are revised in June by about 300 euros each month, about 3,600 euros per year, according to the average assumption that the INE collects for a loan of 150,000 euros at 25 years, with a differential of 1% over this reference index. The cost of new loans or those that are subrogated, whether at a variable, fixed or mixed rate, also rises, compared to what banks have offered in recent months. In May 2022, the Euribor had barely taken off…