Variable-rate home loans reviewed in November are repriced on October's Euribor averages. On our arithmetic, a 150,000 euro, 30-year loan pays about 89 euros more a month on the 12-month index, 44 on six months and 18 on three months.
The ECB left its deposit rate at 2.50 percent on Thursday, hours after Christine Lagarde said she will step down on 7 February 2027. Euribor rose on all three tenors, and Deco Proteste puts the next 12-month revision at up to 88.70 euros a month more on a typical loan.
The Bank of Portugal's first look at mixed-rate loans leaving their fixed period: about 20 percent of 2023 contracts were renegotiated near the switch to Euribor, often for a new fixed rate. With fixed periods near two years, many more borrowers are close behind.
Chega's bill would remove the 0.5 percent charge banks can levy on early repayments, which returned in January after a three-year suspension. It passed at first reading and still faces committee and a final vote.
September's climb in Euribor rates feeds into every variable-rate loan reviewed in October. Borrowers on the 12-month index are hit hardest, with a rise of about 14 percent on a 150,000 euro mortgage.
June crédito-habitação payments will climb up to €70 — the sharpest single-month step since 2023 — as the 12-month Euribor drift hits the annual reset. Variable-rate borrowers carry the full burden; ECB tightening signals and Middle East tension feed the path, ECO reported Friday 29 May.
The 3-month Euribor fixed at 2.252% on Wednesday 13 May, its highest level since April 2025. The 6-month settled at 2.485% and the 12-month at 2.798%. The drift up the curve reverses the spring 2025 ECB-cut narrative and tilts Portuguese variable-mortgage resets modestly higher.
