Who was going to tell us that Boris Vujcicit was going to bring us good luck. Really, who was going to tell us that? some day we would know of its existence but there it is, for the moment it is our talisman and yesterday I already told you that the crotata Boris Vujcic He is going to be the new vice president of the ECB and since the news became known, the Euribor has done nothing more than set minimums for 2026. Let’s see that it is only two days and I am still jumping to conclusions but for the moment it is what it is with 100% precision
Very good, intern, now give me today’s Euribor.
We continue the penultimate week of January and we do so with another drop that takes us back to the lows of this 2026. Specifically, the reference index most used in mortgages drops 23 thousandths to 2.236%.
As to The average of the Euribor for January 2026 remains momentarily at 2,249% which represents a small increase compared to the previous month, although a small reduction for those who review annually (in January 2025 it was at 2.525%).
What will variable mortgages do in January 2026?
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With a provisional average Euribor of 2,249%, a mortgage of €150,000 for 25 years with a spread of 1% and semiannual review, will go from paying 842.5 euros to paying 855.9 euros, which represents a monthly variation of 13.4 euros. If the review is annual, you will go from paying 877.95 euros to paying 855.9 euros, which represents a monthly variation of -22.1 euros.
What is the Euribor and what is it for?
He Euribor (acronym of Euro Interbank Offered Rate) is the reference index that indicates the average interest rate at which financial institutions lend money to each other in the European interbank market.
Its main function is to serve as a basis for determining the cost of most bank loans in the Eurozone, being especially relevant in the variable rate mortgages. When the Euribor rises or falls, the installments of these mortgages are adjusted accordingly during their periodic review. In addition, it works as a thermometer of the economic health and policies of the European Central Bank: if official rates rise to stop inflation, the Euribor usually follows that same upward trend.
When will the next ECB meeting be?
The Governing Council of the ECB holds its monetary policy meetings approximately every six weeks, usually on Thursdays, the next one will occur on February 5. Most of them take place in Frankfurt and, after each one, the decision is published and there is a press conference by the president and vice president. Additionally, in March, June, September and December they present their updated macroeconomic projections. Among those appointments they also meet for non-monetary matters. Days before each decision there is a period of silence in which its members avoid comments on the outlook for rates or inflation.
How is the Euribor calculated?
The Euribor calculation has evolved to be more precise and transparent. To avoid manipulationwhat is known as hybrid methodologywhich prioritizes actual operations over estimates.
Here I detail the steps and levels that are followed:
1. Data collection
Each business day, a panel composed of 19 most important banks in Europe (such as Santander, BBVA or Deutsche Bank) sends your data to the European Monetary Markets Institute (EMMY).
2. Levels of calculation (The «Cascade»)
To avoid manipulations, the methodology follows a three-level hierarchy:
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Level 1: It is based exclusively on real transactions of more than 10 million euros made the previous day.
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Level 2: If there were not enough transactions, data from previous days is used or it is calculated by interpolation (estimating the value based on close deadlines).
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Level 3: As a last resort, data from other related markets or the banks’ expert judgment under strict controls are used.
3. Filtering and averaging
Once the interest rates of all the banks have been collected:
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They eliminate the 15% of the highest values and the Bottom 15% (to prevent extreme data from distorting the result).
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The arithmetic mean of the remaining values.
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The result is published daily at 11:00 CET for different deadlines (1 week, 1 month, 3 months, 6 months and 12 months).
Although the Euribor is published daily, the value that usually appears in the news and that affects your mortgage is the monthly average (the sum of all daily values for the month divided by the number of working days)
The value of the Euribor today and its evolution
Each day the daily euribor valueand from it the monthly averagewhich is the reference figure that banks apply in mortgage reviews. Therefore, following the evolution of the Euribor allows us to anticipate whether the rates will rise or fall in the future.
