Monthly Euribor and borrowing costs update: December 2022

The latest Euribor rate and what it means for Spanish mortgage borrowers.

12-month Euribor, the rate normally used to calculate mortgage interest rates in Spain, came in at 3.018% in December 2022, up from 2.828% the previous month.

As a result a typical 20-year variable-rate Spanish mortgage of €120,000 resetting annually this month will incur higher monthly mortgage repayments of around €197.