Euríbor

Interbank interest rate at which major European banks lend money to each other in euros. It is the most widely used benchmark for variable-rate mortgages in Spain. Your variable monthly mortgage payment is calculated as Euribor + spread (typically +1% to +1.8%). Published daily and reviewed every 6 or 12 months according to the contract. In 2026 the 12-month Euribor stands around 2.5–3%, after peaks above 4% in 2023.