12-Month Euribor Hits Two-Year High in September, Third Monthly Rise

The 12-month Euribor, benchmark for Spanish variable-rate mortgages, is set to close September at its highest level in two years, marking a third consecutive monthly increase. This signals sustained upward pressure on European short-term interest rates, likely reflecting expectations of tighter ECB policy or rising risk premiums. The move will directly raise borrowing costs for Spanish households, potentially dampening consumption and housing demand.