# Spanish mortgage market interest rate trends

> Live situation record from CLSTR: https://clstr.news/situations/spanish-mortgage-market-interest-rate-trends
> Updated: 2026-10-17T08:49:16.000Z. Sources: 7. Developments: 2.

The Spanish mortgage market has seen a significant shift toward fixed-rate loans, which accounted for 62.3% of new housing mortgages as consumers seek monthly payment predictability. This trend is driven by volatility in the Euribor, the key reference for variable-rate mortgages.

In mid-October 2026, the 12-month Euribor showed signs of stabilization, averaging approximately 3.21%. This represented a slight decrease from the 3.247% recorded at the end of September, following a period of volatility influenced by European Central Bank decisions. Despite this minor decline, mortgage holders continue to face higher costs than the previous year, when the Euribor stood at 2.18% in October.

## Timeline

### 2026-10-17: Euribor stabilizes in October amid shifting mortgage trends

The Euribor stabilized at approximately 3.21% in mid-October, offering slight relief to variable-rate mortgage holders despite significantly higher costs compared to last year.

3 sources. https://clstr.news/cluster/euribor-stabilizes-in-october-amid-shifting-mortgage-trends

### 2026-10-11: Fixed-rate mortgages dominate market amid rising Euribor

Fixed-rate mortgages now represent 62.3% of new housing loans as consumers seek stability amid rising Euribor rates and interest rate uncertainty.

4 sources. https://clstr.news/cluster/fixed-rate-mortgages-dominate-market-amid-rising-euribor

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Cite as: Spanish mortgage market interest rate trends. CLSTR, https://clstr.news/situations/spanish-mortgage-market-interest-rate-trends