The Euribor today, April 23, 2024, remains at 3.734%, equaling the value recorded the previous day. This index is published in different terms, 1 week, 1 month, 3 months, 6 months and 12 months; and affects the mortgage system. The interest rate on variable mortgages in Spain is reviewed according to what is stipulated in each contract, whether semiannual or annual. The Euribor represents the interest rate at which European banks lend money to each other, with a maturity period of 12 months. This indicator plays a crucial role in calculating mortgage interest rates.
The Euribor, whose name comes from ‘Europe Interbank Offered Rate’, reflects the interest at which banks lend money to each other in the interbank market for terms ranging from one week to one year. With five different types, the most common is the 12-month one, used as a reference in variable-rate mortgages in Spain. Although the 3-month Euribor is more relevant to measuring the health of the interbank market, it influences a wide range of financial products. The Euribor is published daily by the European Monetary Markets Institute (EMMI) at 11 a.m., after eliminating extreme quotes and calculating the weighted average of the data provided by the 18 entities participating in the panel.
