started · updated
Spain mortgage rates rank third lowest in eurozone
Spain currently holds the third lowest mortgage rates in the eurozone, with an average rate of 2.89%. This is significantly lower than the eurozone average of 3.48% and compares favorably to rates in Germany, the Netherlands, Italy, and France.
Driven by rising Euribor rates and economic uncertainty, there is a massive shift toward fixed-rate mortgages in the Spanish market. While official INE data shows fixed-rate mortgages accounted for 60.9% of new loans in May, fintech brokers report much higher figures. Gibobs.com indicates that 87.81% of its mortgages this year are fixed-rate, while Trioteca reported that over 90% of its Q1 intermediations were fixed-rate.
This trend is not limited to new buyers; many existing homeowners are also switching. Approximately 63.79% of mortgage subrogations managed by Gibobs.com involve customers moving from variable or mixed-rate loans to fixed-rate products to protect themselves against further interest rate hikes.
Entities
Coface · European Central Bank · Gibobs.com · Spain · Trioteca
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] 63.79% of mortgage subrogations managed by Gibobs.com involve switching from variable or mixed rates to fixed rates. www.larazon.es
- [○ 1 SOURCE] Trioteca reported that over 90% of its intermediated mortgages in Q1 were fixed-rate. www.larazon.es
- [○ 1 SOURCE] Spain's average mortgage rate is 2.89%, making it the third cheapest in the eurozone. www.que.es
- [● 2 SOURCES] According to INE, 60.9% of new mortgages in May were fixed-rate. www.expansion.com · www.larazon.es
- [○ 1 SOURCE] The average rate for new mortgages in the eurozone is 3.48%. www.que.es
- [● 2 SOURCES] 87.81% of mortgages signed via Gibobs.com this year are fixed-rate. www.expansion.com · www.larazon.es