Euribor and mortgages in 2026: what it means for buyers
The cost of financing a purchase has moved again. The Euribor, the index most Spanish variable mortgages are tied to, stands at around 2.92% in August 2026, up from roughly 2.11% a year earlier.
The Euribor has risen nearly 0.8 points in a year, yet it has not cooled Madrid prices.
What it means for existing borrowers
Three out of four mortgages in Spain are variable, so millions of households face an upward revision this year. As a reference, on a 150,000 € mortgage the monthly payment rises from about 720 € to about 785 € with this increase.
What the market offers buyers today
Despite the higher index, bank competition keeps attractive offers: fixed mortgages from around 2.10% (nominal) and variable ones from Euribor + 0.30%. For a buyer with a strong profile and a large transaction, there is room to negotiate with the bank.
The read for the high end
In high-value property, many deals close without financing or with partial financing, so the Euribor weighs less on the decision. And one relevant fact: the rate rise has not cooled prices in Madrid, sustained by the lack of supply.