Euribor
Euribor (12 month) is the interest rate most commonly used to calculate mortgage payments in Spain. It is used for both variable and fixed rate mortgages in Spain, though the vast majority of mortgages in Spain are variable rate.
Fundamentally, Euribor is a Euro system interbank lending rate determined by the key interest rate (on main refinancing operations) set by the European Central Bank (ECB).
Basically, in terms that most people would understand, it is the interest rate that the banks used to lend to each other, and it is calculated by adding a risk-premium to the base rate set by the ECB.
So when the base rate goes up, so does Euribor, which in turn pushes up the variable mortgage interest rates in the Euro-zone. Most Spanish mortgages with variable rates are calculated as Euribor + X%, where X is normally anything between 0.75% and 2%.
Euribor rates and graphs
Euribor news
+ Euribor May 2008
+ Euribor April 2008
+ Euribor March 2008
+ Euribor February 2008
+ Euribor January 2008
+ Euribor December 2007
+ Euribor November 2007
+ Euribor October 2007
+ Euribor September 2007
+ Euribor August 2007
+ Euribor July 2007
+ Euribor June 2007
+ Euribor May 2007
+ Euribor April 200
© Mark Stucklin (Spanish Property Insight)
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