The rising Euribor rates are widening the financial gap for families with floating-rate mortgages. This trend appears in a survey carried out by the Valencian Community Consumers’ Association, which shows mortgage payments climbing as much as 300 euros per month. Many households are already reallocating funds, cutting back on discretionary spending such as entertainment or clothing to cope with the higher costs.
From the data, 10.4% of respondents reported increases between 200 and 300 euros during the latest revision, 18.8% saw rises between 100 and 200 euros, and half of those surveyed experienced increases under 100 euros. Given Euribor’s recent trajectory, many expect further wage adjustments, though 20.8% did not have a precise figure because the investigation had not yet been completed. In short, the tightening of mortgage outlays is prompting households to rethink the structure of their monthly budgets.
As a result, nearly half of the participants plan to curb spending on dining out and leisure activities, and 45% intend to reduce expenditures on clothing, accessories, and gifts. About 27% anticipate cutting back on television subscriptions, gym memberships, and private lessons, while 15% expect to trim grocery expenses. These shifts underline a broader drive to regain financial balance in the face of higher debt service costs.
Income
Beyond trimming costs, many households are considering ways to boost family income. However, a notable portion remains uncertain about how to proceed. Some plan to explore additional work opportunities, aiming to increase monthly liquidity. Others contemplate sharing household payments or renting out available spaces, such as a parking area or storage, to create extra income streams. A minority views these measures as impractical or unlikely to yield meaningful results, but the overall sentiment leans toward diversifying income sources to weather the currency-driven insurance costs and debt servicing pressures.
At the same time, trust in banking institutions appears limited among respondents. When asked what help they would like from banks, a majority indicated they did not expect meaningful relief or changes. A portion expressed a desire to cap interest rates, reduce the spread, or avoid commissions, while a smaller group hoped for more favorable terms without additional fees. This sentiment highlights a demand for more transparent and consumer-friendly financial products during periods of rising benchmark rates.
Given these findings, Vicente Inglada, the general secretary of the Valencia Community Consumers’ Union, argued that government action is needed to improve access to housing. Proposals include reconsidering the housing tax deductions eliminated in 2013 and restoring favorable financial options associated with housing accounts, among other measures that would ease affordability for homeowners under pressure from higher Euribor-linked costs.