October brings the biggest rise in mortgage payments in three years
If your mortgage rate is reviewed in October, your monthly payment goes up. ECO worked it out for a loan of €150,000 over 30 years with a 1% spread: about €25 more on 3-month Euribor (€660 to €685), about €50 more on 6-month Euribor (€658.80 to €708.70) and about €91 more on 12-month Euribor (€646.40 to €737.30). The September averages used were 2.6359%, 2.9142% and 3.2431%. For 12-month Euribor this is the biggest rise since December 2023; for 3 and 6 months, the biggest since October 2023.
Why it matters for your move
Look up in your contract which month your rate is reviewed and which Euribor it follows, and plan for the higher payment. If you are about to borrow, work out the payment at today's rates.
This is Re-locant.com’s own brief, written to explain what the update means for people moving to or living in Portugal. For the full original report, see the source below.