Spanish mortgage market shifts as Euribor rises in 2026

Spanish mortgage markets are seeing shifts in product popularity due to rising interest rates. As the 12-month Euribor reached 2.954% in August 2026, banks have increased the cost of fixed-rate mortgages, leading to a resurgence in mixed-rate mortgage interest.

Mixed-rate mortgages accounted for 15% of intermediated mortgages in July, nearly triple the volume seen at the start of the year. While these products offer lower initial fixed rates—typically between 1.8% and 3%—they carry the risk of higher monthly payments once the variable rate period begins.

Top fixed-rate offers for September 2026 include Ibercaja’s 'Vamos' mortgage at 2.55% TIN, Banca March’s 'Avantio' at 2.65% TIN, and Banco Sabadell at 2.75% TIN. Other notable providers include Cajamar, CaixaBank, Openbank, ABANCA, BBVA, and Banco Santander, with rates generally ranging between 2.55% and 3.05% TIN depending on specific requirements and bonuses.