Where Do Current Euribor Rates Rank Historically?

Where Do Current Euribor Rates Rank Historically?

Sometimes you need to zoom out to understand where we are.

Right now, 3-month Euribor is at 2.163%. That feels high if you have only been watching rates since 2015. But lets see how it compares historically.

• 2000-2001: Euribor peaked around 5%. Dot-com bubble era. The ECB was raising rates aggressively.
• 2003-2005: Rates dropped to around 2%. Low growth period.
• 2007-2008: Spiked above 5% before the financial crisis hit, then collapsed.
• 2010-2012: Eurozone debt crisis. Rates hovered around 1-2% with volatility.
• 2015-2022: The negative rate era. Euribor was below zero for 7 years. Banks were literally paying to lend to each other.
• Late 2022 - 2024: The normalization. Rates went from negative to above 4% in record time.
• Now (2026-04-27): 2.163%. Stabilizing after the sharp hikes.

So 2.163% is actually pretty average by historical standards. Not high, not low. The only reason it feels extreme is because we had those 7 years of negative rates that distorted everyone perception.

If you are a homeowner with a variable rate mortgage, you are paying more than the 2021-2022 borrower. But you are paying less than what people paid in 2008. Small comfort, I know.