We start the year with the Euribor easing, but the trend didn’t last long. The index closed February at 3.671%, up 0.062 percentage points from January.
Does this mean the Euribor will climb again in the coming months? Simone Colombelli, director of Mortgages at the comparison and mortgage advisory platform iAhorro, notes there is no reason for alarm. He explains that the Euribor is a volatile indicator and small month-to-month fluctuations are expected. What wouldn’t be logical is to see it surpass the 4% barrier again or to drop suddenly toward levels near 3% unless an unexpected macroeconomic shift occurs, such as a war, a new pandemic, or an official interest rate cut.
Speaking more broadly, Colombelli adds that even though the Euribor has risen slightly, looking at its long-term trajectory shows a period of stability within the anticipated downtrend for this indicator.
In this environment, financial institutions have not taken significant actions regarding variable-rate mortgages. It’s important to note that the European Central Bank (ECB) will hold a policy meeting on March 7. Depending on the decision and how the Euribor responds to the announcement, more changes to mortgage products could follow.
One notable variable-rate mortgage is offered by Banco Mediolanum. It features a Euribor-based rate of plus 0.79% (0.99% in the first year) and an annual percentage rate (APR) of 3.60%. To qualify under these terms, customers must open an account with the bank, have recurring income of at least €3,000, and purchase a life insurance policy.
Another option is EVO’s variable-rate mortgage. It provides a Euribor plus 0.48% (2.30% for the first two years) with an APR of 4.26%. The conditions include salary domiciliation, unemployment benefit, or pension above €600, along with home insurance.
Sabadell also offers a variable-rate mortgage with a Euribor plus 0.50% (2.65% in the first year) and an APR of 5.13%. The required commitments include salary or pension domiciliation and the purchase of three insurances (home, life, and payment protection).
Unicaja aligns with this approach. Its variable-rate mortgage features a Euribor plus 0.50% (2.40% in the first year) and an APR of 4.74%, provided that monthly income exceeds €2,500 and the main bills are domiciled. Applicants must buy home, life, or temporary disability insurance, plus car or health insurance, and make contributions to a pension plan or investment fund.
Finally, Ibercaja’s variable-rate mortgage presents a Euribor plus 0.60% (1.75% in the first year) with an APR of 4.91%. To sign under these terms, customers must domicile their salary and routine bills, use the bank’s credit card, acquire two life and home insurances, and regularly contribute to one of Ibercaja’s investment funds.
In summary, the variable-rate mortgage market offers products with attractive terms. The best approach is to compare options to find the product that best fits an individual’s needs.