A summary of the Latest Euribor and Spanish mortgage news
Euribor (12 months), the interest rate generally used to calculate mortgage repayments in Spain, rose to 1.924pc in March, a change of +12.3pc compared to the previous month.
On an annualised basis, Euribor is 58.4pc higher than it was a year ago (see graph above), meaning higher monthly repayments for borrowers with mortgages resetting now.
Repayments for a typical mortgage (150,000 Euros, 25 years, Euribor +0.25) will go up by around 50 Euros /month, or 600 Euros / year. That will punish many stretched household budgets in Spain.