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Euribor hits two-year high as interest rates and mortgage costs rise
The Euribor has climbed to its highest level since July 2024, closing September at approximately 3.24%. This upward trend, driven by inflation concerns and geopolitical instability in the Middle East, is expected to significantly increase costs for households with variable-rate mortgages. Depending on the loan structure, annual mortgage payments could rise by as much as 1,000 to 1,300 euros.
In response to inflationary pressures, the European Central Bank recently implemented a 25-basis-point interest rate hike. This move reflects market expectations that rates may remain elevated for some time. In Portugal, the 6-month Euribor also reached a new high of 3.103%, while the Council of Public Finance warned that national debt interest charges could increase by nearly 50% by 2030.
Separately, in Argentina, financial instability is rising within the non-traditional sector. Delinquency rates for fintechs and digital wallets hit a record 33.9% in August, significantly outpacing the 12.8% delinquency rate seen in traditional banks. In the province of Corrientes, the irregularity rate stands at 18.6%, placing it among the highest in the country.
Entities
Banco de Portugal · Central Bank of Argentina · Conselho das Finanças Públicas · Corrientes · Euribor · European Central Bank · Mercado Pago · Middle East
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Conflict in the Middle East and energy price volatility are contributing to rising interest rates. www.deia.eus · www.laregion.es
- [● 4 SOURCES] The European Central Bank raised interest rates by 25 basis points in September. www.capitalradio.es · www.deia.eus · www.laregion.es · www.lavanguardia.com
- [○ 1 SOURCE] The province of Corrientes, Argentina, has an irregularity rate of 18.6%, ranking seventh nationally. itunet.com.ar
- [● 7 SOURCES] The 12-month Euribor closed September at approximately 3.24%. www.capitalradio.es · www.lacronicabadajoz.com · www.informacion.es · www.deia.eus · www.laregion.es · +2 more
- [○ 1 SOURCE] Portugal's debt interest charges are projected to rise by nearly 50% over the next four years. www.cmjornal.pt
- [○ 1 SOURCE] The 6-month Euribor rate in Portugal rose to 3.103%. sapo.pt
- [● 4 SOURCES] Rising Euribor rates could increase annual mortgage payments by up to 1,000 euros for some households. www.lacronicabadajoz.com · www.informacion.es · www.deia.eus · www.laregion.es
- [○ 1 SOURCE] Delinquency rates in Argentine fintechs and digital wallets reached a record 33.9% in August. www.eschaco.com