The benchmark interest rate in Spain was last recorded at 4.50 percent. This dataset provides the latest reported value for - Spain Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Spain Long Term Interest Rate

• Spain Long Term Interest Rate: Month Avg: Spain: ECB Harmonised was reported at 3.10 % pa in Feb 2025, compared with 3.17 % pa in the previous month.
• Spain Long Term Interest Rate data is updated monthly, available from Nov 1991 to Feb 2025.
• The data reached an all-time high of 13.00 % pa in Oct 1992 and a record low of 0.04 % pa in Dec 2020.
• Long Term Interest Rate is reported by reported by CEIC Data.

• In the latest reports, Spain Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at -0.57 % pa in Nov 2021.
• The cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 2.90 % pa in Feb 2025.
• Spain Exchange Rate against USD averaged 0.92 (USD/EUR) in Jun 2023.

The statutory interest rate applied in Spain remained unchanged at 3.25 percent in 2024. That rate had stood at three percent throughout the whole period from 2016 to 2022. The rate peaked in 2001 and 2008, when it reached 5.5 percent.

Mortgage interest rates in Spain soared in 2022, after falling below 1.5 percent at the end of 2021. In the second quarter of 2024, the average weighted interest rate stood at 3.46 percent. That was lower than the rate in the same period the previous year. Despite the increase, Spain had a considerably lower mortgage interest rate than many other European countries.The aftermath of the property bubble Before the bursting of the real estate bubble, the housing market experienced a period of intense activity. A context marked by economic growth, high employment rate, low interest rates, skyrocketing house prices and land speculation, among others, encourage massive lending for the acquisition of property; in 2005 alone, more than 1.3 million home mortgages were granted in Spain. When the bubble burst and the financial crisis hit the country, residential real estate transactions plummeted and households’ non-performing loans jumped to nearly 50 billion euros as countless families were not able to cope with their debts. Over a decade after the onset of the crisis, and despite falling mortgage rates, the volume of mortgage loans keeps decreasing every year. A homeowner country Traditionally, Spain has been a country of homeowners; in 2021, the homeownership rate was roughly 76 percent. While nearly half of Spanish households own their property with no outstanding payment, the percentage of households that have loan or mortgage pending has been decreasing in recent years. Despite ownership remaining as the preferred tenure option, cultural changes, job insecurity and mounting house prices are prompting Spaniards to opt more and more to become tenants instead of owners, as shown in the changing dynamics of the Spanish residential rental market.

Graph and download economic data for Interest Rates: Long-Term Government Bond Yields: 10-Year: Main (Including Benchmark) for Spain (IRLTLT01ESA156N) from 1980 to 2024 about Spain, long-term, 10-year, bonds, yield, government, interest rate, interest, and rate.

Spain ECB Interest Rate: Marginal Lending Facility data was reported at 2.650 % pa in Apr 2025. This records a decrease from the previous number of 2.900 % pa for Mar 2025. Spain ECB Interest Rate: Marginal Lending Facility data is updated monthly, averaging 2.125 % pa from Jan 1999 (Median) to Apr 2025, with 316 observations. The data reached an all-time high of 5.750 % pa in Apr 2001 and a record low of 0.250 % pa in Jun 2022. Spain ECB Interest Rate: Marginal Lending Facility data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s Spain – Table ES.M001: Key Interest Rates: European Central Bank.

Bank deposit interest rate, percent in Spain, March, 2025 The most recent value is 1.99 percent as of March 2025, a decline compared to the previous value of 2.01 percent. Historically, the average for Spain from March 2003 to March 2025 is 1.6 percent. The minimum of 0.01 percent was recorded in February 2020, while the maximum of 5.07 percent was reached in October 2008. | TheGlobalEconomy.com

Spain Legal Interest Rate data was reported at 3.000 % pa in Oct 2018. This stayed constant from the previous number of 3.000 % pa for Sep 2018. Spain Legal Interest Rate data is updated monthly, averaging 4.000 % pa from Jan 1973 (Median) to Oct 2018, with 550 observations. The data reached an all-time high of 11.000 % pa in Dec 1985 and a record low of 3.000 % pa in Oct 2018. Spain Legal Interest Rate data remains active status in CEIC and is reported by Bank of Spain. The data is categorized under Global Database’s Spain – Table ES.M014: Legal and Debt Rate.

The average mortgage interest rate in Spain followed a downward trend for almost a decade before increasing dramatically in 2022. In 2023, new housing loans had an average interest rate of 3.74 percent - about three times the interest rate in 2020. Mortgages with a five to 10-year term were the only product which saw rates decline between 2022 and 2023. Why did mortgage rates spike? Macroeconomic factors, such as inflation, economic growth, and fiscal policy, play a major role in determining the cost of a loan. Inflation in Europe started rising in late 2021, largely due to surging energy costs. In Spain, the annual change of the consumer price index peaked at almost 11 percent in July 2023. The European Central Bank has responded by introducing a series of hikes on the key interest rates (main refinancing operations, marginal lending facility, and deposit facility), which have affected lending rates across the European Union. How has the housing market reacted to the interest rate hike? The housing market follows a certain seasonality, with more home sales in the second and fourth quarters of the year. This was also the case in 2022, but the last quarter of the year saw an annual decline. Though compared to previous years, the number of transactions was one of the highest, the annual decrease shows a potential downturn.

Graph and download economic data for Interest Rates: 3-Month or 90-Day Rates and Yields: Interbank Rates: Total for Spain (IR3TIB01ESM156N) from Jan 1977 to Apr 2025 about Spain, interbank, 3-month, yield, interest rate, interest, and rate.

The annual average interest rate on new residential loans in Spain continued to rise in 2023, after increasing in for the first time in 2022 following a decade long period of year-on-year decrease. In 2023, the average mortgage rate was 3.75 percent, up from 1.49 percent in 2021.

Spain ECB Interest Rate: Deposit Facility data was reported at 2.250 % pa in Apr 2025. This records a decrease from the previous number of 2.500 % pa for Mar 2025. Spain ECB Interest Rate: Deposit Facility data is updated monthly, averaging 0.625 % pa from Jan 1999 (Median) to Apr 2025, with 316 observations. The data reached an all-time high of 4.000 % pa in May 2024 and a record low of -0.500 % pa in Jun 2022. Spain ECB Interest Rate: Deposit Facility data remains active status in CEIC and is reported by European Central Bank. The data is categorized under Global Database’s Spain – Table ES.M001: Key Interest Rates: European Central Bank.

Key information about Spain Short Term Interest Rate

• Spain Short Term Interest Rate: Month End: EURIBOR: 3 Months was reported at -0.57 % pa in Nov 2021, compared with -0.55 % pa in the previous month.
• Spain Short Term Interest Rate data is updated monthly, available from Dec 1998 to Nov 2021.
• The data reached an all-time high of 5.28 % pa in Sep 2008 and a record low of -0.57 % pa in Nov 2021.
• Short Term Interest Rate is reported by reported by European Money Markets Institute.

• In the latest reports, Spain Long Term Interest Rate: Month Avg: Spain: ECB Harmonised was reported at 3.40 % pa in Jun 2023.
• The cash rate (Policy Rate: Month End: Main Refinancing Operations) was set at 4.00 % pa in Jul 2023.
• Spain Exchange Rate against USD averaged 0.92 (USD/EUR) in Jun 2023.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Call Money/Interbank Rate: Total for Spain (IRSTCI01ESM156N) from Jun 1973 to May 2025 about Spain, interbank, overnight, interest rate, interest, and rate.

Graph and download economic data for Interest Rates, Government Securities, Government Bonds for Spain (INTGSBESM193N) from Mar 1978 to Feb 2025 about Spain, bonds, securities, government, interest rate, interest, and rate.

The statistic shows the evolution of the default interest rate in Spain from 2002 to 2016. In 2016, the delay interest rate for tax purposes was set at **** percent.

Long-term interest rate in Spain, March, 2025 The most recent value is 3.39 percent as of March 2025, an increase compared to the previous value of 3.1 percent. Historically, the average for Spain from January 1980 to March 2025 is 7.13 percent. The minimum of 0.04 percent was recorded in December 2020, while the maximum of 18.11 percent was reached in October 1983. | TheGlobalEconomy.com

Key Interest Rate: Central Banks data was reported at 2.000 % in 2026. This records a decrease from the previous number of 2.375 % for 2025. Key Interest Rate: Central Banks data is updated yearly, averaging 0.719 % from Dec 1999 (Median) to 2026, with 28 observations. The data reached an all-time high of 3.625 % in 2023 and a record low of -0.500 % in 2021. Key Interest Rate: Central Banks data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Spain – Table ES.OECD.EO: Interest Rate: Forecast: OECD Member: Annual.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Call Money/Interbank Rate: Total for Spain (IRSTCI01ESQ156N) from Q2 1973 to Q1 2025 about Spain, interbank, overnight, interest rate, interest, and rate.

Spain Interest Rate: Business Transaction: Law 3/04 data was reported at 8.000 % pa in Oct 2018. This stayed constant from the previous number of 8.000 % pa for Sep 2018. Spain Interest Rate: Business Transaction: Law 3/04 data is updated monthly, averaging 8.250 % pa from Jul 2002 (Median) to Oct 2018, with 196 observations. The data reached an all-time high of 11.200 % pa in Jun 2008 and a record low of 7.750 % pa in Feb 2013. Spain Interest Rate: Business Transaction: Law 3/04 data remains active status in CEIC and is reported by Bank of Spain. The data is categorized under Global Database’s Spain – Table ES.M014: Legal and Debt Rate.