Mortgage payments rise at November rate reviews: up €89 a month on a €150,000 loan tied to 12-month Euribor
If your mortgage rate is reviewed in November, your monthly payment will go up whichever Euribor your loan is tied to: three-, six- or twelve-month. The calculation was made by the consumer protection organisation Deco Proteste for the Lusa news agency (Jornal Económico). The example is a €150,000 loan over 30 years with a bank margin (spread) of 1%.
With 12-month Euribor the payment will be €736.94, €89.31 more than the payment set in November 2025. With 6-month Euribor it will be €713.96, €44.24 more than after the May review. With 3-month Euribor it will be €684.92, €17.62 more than the payment set in August.
Rates barely moved in October. The average 3-month Euribor stayed at 2.635%, the 6-month rose by 0.053 percentage points to 2.975%, and the 12-month fell by 0.008 percentage points to 3.239%. But the new payment is compared with the one set at the previous review, and six months or a year ago rates were lower, so payments still go up in November (ECO).
According to Banco de Portugal data for August, 40.3% of variable-rate mortgages on main homes are tied to 6-month Euribor, 31.03% to 12-month and 24.27% to 3-month. Your contract states which Euribor your loan is tied to and when the rate is reviewed.
Do not expect payments to fall any time soon. The ECB left rates unchanged on 29 October, but investors expect the deposit rate to rise to 2.75% by the end of the year and by a further 0.25 percentage points in March 2027 (ECO). What makes up the rate is explained in our guide Mortgages in Portugal: what makes up the rate and what a foreigner will be asked.
