Euribor breaks 3% for the first time in two years, and variable mortgages feel it

The 12-month Euribor touched 3% on an intraday basis in August 2026, the first time it has crossed that line since September 2024. With 19 trading days in, the month’s provisional average sits near 2.95%, about 0.8 points above August 2025 (EMMI daily data; Banco de España published July’s official reference rates on August 3).

Who this reaches: autónomos with a variable-rate mortgage or a variable business loan indexed to Euribor. Take a EUR 150,000 mortgage over 25 years at a 1-point spread. This year’s Euribor adds roughly EUR 65 a month over last year’s, about EUR 786 a year, at the next annual review. The same index prices variable lines of credit many self-employed people use to smooth slow months.

If your mortgage or loan reviews annually around this time of year, check which month it uses. The exact reset date shifts the number. Run the new rate through our self-employed mortgage calculator before the statement lands.

Our take: after two years of Euribor falling, this is the first month autónomos need to budget for a review going the other way.