The Bank of Spain published the official reference interest rates used for variable-rate mortgage lending in Spain for August 2025, showing the one-year Euribor at 2.114%. This was higher than July’s 2.079% but 1.052 percentage points lower than a year earlier. The release also reported Euribor at 1.895% (one week), 1.890% (one month), 2.021% (three months) and 2.084% (six months), alongside the five-year interest rate swap (IRS) at 2.336%. For €STR-based official reference rates, it published 1.926% (one week), 1.926% (one month), 1.963% (three months), 2.164% (six months) and 2.682% (one year). The one-year Mibor was reported at 2.114%. These official reference rates apply from their publication in Spain’s Official State Gazette, which typically follows a few days after the Bank of Spain’s dissemination. Although Mibor has been removed from the list of official rates, it retains that status for operations entered into before 1 January 2000 and will continue to be published monthly; the Bank of Spain also reiterated the contractual fallback approach where no substitute reference rate exists, based on the average rate for mortgage loans over three years for home purchase in Spain plus a calculated spread.
Bank of Spain 2025-09-01
Bank of Spain publishes August 2025 official mortgage reference rates with one-year Euribor at 2.114%
The Bank of Spain released the official reference interest rates for variable-rate mortgage lending in August 2025, with the one-year Euribor at 2.114%, up from July's 2.079% but 1.052 percentage points lower than the previous year. Additional rates include the five-year interest rate swap at 2.336% and various €STR-based rates. The one-year Mibor, though removed from the official list, remains applicable for pre-2000 operations and will continue to be published monthly.