The Bank of Spain has published the official reference rates for variable-rate mortgage loans for May 2026. The one-year Euribor, the main benchmark used to set interest rates on mortgages granted by Spanish credit institutions, rose to 2.804% from 2.747% in the previous month and stood 0.723 percentage points above its level a year earlier. Other official mortgage benchmarks for May included Euribor at 1.890% for one week, 1.957% for one month, 2.226% for three months and 2.536% for six months, while the five-year interest rate swap stood at 2.886%. The €STR-based official reference rates ranged from 1.931% for one week to 1.956% for one year. Mibor was also published at 2.804% and remains an official reference only for contracts formalised before 1 January 2000. These rates become valid once published in the Official State Gazette, which usually occurs a few days after the Bank of Spain disseminates them.
Bank of Spain2026-06-01
Bank of Spain publishes May mortgage reference rates with one year Euribor at 2.804%
The Bank of Spain published official reference rates for variable-rate mortgage loans for May 2026, with the one-year Euribor rising to 2.804% from 2.747% and standing 0.723 percentage points above its level a year earlier. It also released updated Euribor tenors, the five-year interest rate swap at 2.886%, €STR-based reference rates, and Mibor at 2.804%, which remains applicable only to contracts formalised before 1 January 2000.