A few days ago, the Bank of Spain confirmed that the Euribor, the index to which most mortgages in Spain are referenced, closed February at -0.335%. This is its highest level since July 2020, and represents an increase over the -0.477% recorded in January. As a result, in anticipation of a future progressive rise in interest rates, and with the confidence of earning more in the medium and long term, Spanish banks are now improving the conditions of their variable rate mortgages and worsening or eliminating their offer of fixed rate mortgages. Currently, the average fixed interest rate is at 2.8%, while the average variable interest rate on mortgages is at 2.08%, the lowest in history. This shift in the mortgage market in Spain comes after the record number of fixed-rate mortgage loans for home purchase in 2021, and could change depending on the decisions taken by the European Central Bank (ECB) to raise or not interest rates and thus curb the escalation of inflation. In ESPHOUSES we will help you to obtain financing for the purchase of your home with the best market conditions. Our advisors will request the necessary documentation and will study it with our collaborating banks (Banco Santander, Banco Sabadell, Caixabank, Bankinter and Deutsche Bank), in order to offer you a mortgage with the best conditions in terms of financing percentage, term, grace period and interest rate. Contact us.