Is Now a Good Time to Buy a Home? Fixed-Rate Mortgages Gain Ground as Interest Rates Rise

In September 2026, interest rates are once again at the centre of the conversation. The ECB has raised its key interest rates to 2.50%, and the 12-month Euribor has once again exceeded 3%. 

Does this mean you should wait before buying? Not necessarily.

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Looking back over the past few months, the mortgage market has been moving in a clear direction. 

In August, the 12-month Euribor closed at 2.954%, 0.84 percentage points higher than in the same month of the previous year. Throughout September, it continued to rise, once again exceeding the 3% threshold. 

Added to this is the ECB's latest interest rate increase. As a result, if you choose a variable-rate mortgage, your monthly repayments may change in line with the Euribor. If it rises, you'll pay more. If it falls, you'll pay less. And it's precisely this uncertainty that is prompting many people to reconsider fixed-rate mortgages.
 

Know How Much You'll Pay, Even if Interest Rates Change

With a fixed-rate mortgage, you know exactly how much you'll pay each month. Even if the Euribor changes five years from now, your monthly repayment will remain the same as the amount agreed when you signed, provided the loan terms remain unchanged. 

This predictability can be particularly valuable if you want greater control over your monthly expenses. It's not about trying to predict what the Euribor will do in five years. It's about knowing what you can afford today and deciding how much financial stability you want for your household. 

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Furthermore, changes in interest rates don't mean that favourable mortgage terms are no longer available. Much depends on your financial profile, the loan-to-value ratio, the repayment term and, above all, how we present your application to the bank. 
 
In fact, this very month at aFinance, we secured a fixed-rate mortgage at 2.50% for a client from Barcelona purchasing a second home in Girona, achieving an 88% loan-to-value ratio and obtaining the FEIN (European Standardised Information Sheet) in just two weeks. 
 
This case demonstrates that market conditions aren't the only determining factor. Your financial profile, the structure of the mortgage and how the terms are negotiated with lenders can also make a significant difference. 

So, Could Now Be the Right Time for Me to Buy? 

It all depends on your circumstances. There is no perfect time to buy a home that works for everyone. But there are times when it makes sense to stop waiting for the market to become predictable and start exploring your real options. 

In fact, the latest figures from Spain's National Statistics Institute (INE) show that the mortgage market remains active: in June 2026, 45,907 residential mortgages were granted, 10.8% more than in the previous year. The average mortgage amount reached €178,365, while the average initial interest rate stood at 2.96%.%. 

So, if you have a stable income and have found a home that suits your needs, perhaps the question shouldn't be: 

“Should I wait for interest rates to fall?” 

But rather:: 

“What mortgage terms can I secure today, and how can I protect myself against future changes?”

And if You're Under 36, a Young Buyer Mortgage Could Be Your Alternative 

Depending on your circumstances and where you live, you may be eligible for a young buyer mortgage offering up to 100% financing, repayment terms of up to 40 years or government-backed guarantees.  

This can be particularly relevant if your main obstacle isn't your ability to afford the monthly repayments, but having enough savings to cover the deposit and the costs associated with buying a home. 

That's why, before ruling out a property because you think you need to have saved 20% of its purchase price, it's worth having your circumstances assessed. 

Ultimately, Whether You Buy Now or Wait Shouldn't Depend Solely on What Happens to the Euribor. 

It depends on your circumstances, the property you've found and the mortgage terms available to you. 

Before waiting a few months to see what happens to interest rates, it may be more useful to understand what options are available to you today and what monthly repayment you can afford. 

From there, making the decision becomes much easier. 

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