Spain's 12-month Euríbor, benchmark for most variable-rate mortgages, closed April at 2.747%, its highest since September 2024. This marks a 60.4 basis point rise from a year ago, raising average annual mortgage payments by about 600 euros. The increase pressures both variable and fixed-rate mortgages.
The 12-month Euríbor rose 18.2 basis points in April from March's 2.565% to 2.747%, pending confirmation by Banco de España. This is the highest level since September 2024, when it exceeded 2.93%.
For a 150,000-euro variable-rate mortgage over 30 years with a 0.99% spread, the April Euríbor review adds 50.35 euros monthly, or 604.20 euros yearly, per Europa Press calculations. This shows maximum impact for early-stage reviews with substantial principal remaining.
Experts point to strain on the mortgage market. "After a long period of relative containment, the index is once again pressuring variable mortgages amid major international uncertainty," says iAhorro's Laura Martínez. The rise is also pulling up fixed-rate mortgages, with several lenders revising offers higher in April.
HelpMyCash's Miguel Riera notes the Euríbor surged early in the month but later stabilized. Analysts Diego Barnuevo of Ebury and Ricard Garriga of Trioteca expect it to hold at similar levels in coming months, barring shifts in international context or monetary policy.
