Key data
| Regulation | Resolution of 1 April 2026, of the Banco de España, publishing certain official mortgage market reference interest rates |
|---|---|
| BOE Publication | 2 April 2026 |
| Entry into force | 1 April 2026 |
| BOE Reference | BOE-A-2026-7549 |
| Affected parties | Holders of variable-rate mortgages and financial institutions operating in Spain |
| Category | Real Estate — Mortgage market |
| Frequency | Mandatory monthly publication |
If you hold a variable-rate mortgage or manage real estate financing, the indices published in this resolution are those your bank must apply at the next instalment review. The Resolution of 1 April 2026 of the Banco de España sets out the official values in force from 1 April 2026.
This publication is not discretionary: current regulations require the Banco de España to publish these indices monthly, and financial institutions to apply them. There is no room for interpretation by banks.
What does this regulation establish?
The resolution publishes the official mortgage market reference interest rates for April 2026. These indices are the only legally valid values for calculating instalment reviews on variable-rate mortgage loans during this period.
The official indices published in this resolution are as follows:
| Official index | Description |
|---|---|
| EURIBOR | Euro Interbank Offered Rate. The most widely used reference index for variable-rate mortgages in Spain |
| Average rate on mortgage loans over 3 years | Average of the rates applied by Spanish credit institutions on mortgage loans with a term of more than three years |
| Average rate on mortgage loans between 1 and 5 years (euro area) | Average of the rates applied in the euro area for mortgage loans with a term of between one and five years |
| MIBOR | Madrid Interbank Offered Rate. A residual index still applied to mortgage contracts predating its replacement by EURIBOR |
| Other official indices | Additional mortgage market reference indices published in accordance with current regulations |
The Banco de España publishes these values on a mandatory monthly basis. The April 2026 resolution follows the same procedure as previous publications, ensuring transparency and uniformity in the application of rates throughout the Spanish financial system.
Economic and operational impact
The direct impact of this publication occurs at the time of the periodic review of each variable-rate mortgage contract. Depending on whether the indices have risen, fallen or remained unchanged relative to the previous reference period, the monthly instalment of the holder will vary accordingly.
For financial institutions, the obligation is clear: they must apply these indices in all reviews of contracts referenced to them. Failing to apply them correctly constitutes a breach of the current mortgage regulations.
For variable-rate mortgage holders, the economic impact depends on three factors:
- The reference index agreed in their contract (usually EURIBOR)
- The spread agreed with the financial institution
- The outstanding capital at the time of the review
The higher the outstanding capital and the longer the remaining term, the greater the impact of any variation in the indices on the monthly instalment.
Who is affected?
- Variable-rate mortgage holders referenced to EURIBOR, MIBOR or any other official index published in this resolution
- Financial institutions and banks operating in Spain with variable-rate mortgage loans in their portfolio
- Financial and mortgage advisors who manage or advise on refinancing, novations or new mortgage transactions
- Property developers and sector companies with variable-rate mortgage financing linked to these indices
- CFOs and finance directors of companies with variable-rate mortgage loans on real estate assets
Practical example
Consider a company with a mortgage loan on its premises under the following conditions: outstanding capital of 800,000 euros, referenced to EURIBOR plus a spread of 1%, with an annual review in April.
At the time of the April 2026 review, the financial institution is required to apply the EURIBOR value published in this resolution of the Banco de España (BOE-A-2026-7549). If EURIBOR has changed relative to the value applied at the previous review, the monthly instalment will change proportionally.
The same principle applies to an individual with a 200,000-euro mortgage referenced to EURIBOR: their bank cannot apply a value other than the one officially published by the Banco de España for April 2026. If it did, it would be in breach of current mortgage regulations and the holder would have the right to claim a correction.
For older contracts referenced to MIBOR, the procedure is identical: the official value published in this same resolution is applied.
What should companies do now?
- Consult the official resolution in the BOE (BOE-A-2026-7549) to find out the exact values of each index published for April 2026.
- Identify which mortgage contracts you hold that are referenced to any of the published indices: EURIBOR, MIBOR, average rate over three years or average euro area rate between one and five years.
- Check the review date of each contract: if the review falls in April 2026, the applicable values are those in this resolution.
- Verify that your financial institution correctly applies the indices when settling the revised instalment. If you detect discrepancies, you have the right to claim a correction.
- If you are a financial institution, update instalment calculation systems with the official published values before processing the periodic reviews for April.
- Plan the treasury impact: if the variation in indices results in a significant change in instalments, adjust cash flow forecasts for the coming months.
Frequently asked questions
What is the official EURIBOR value published by the Banco de España for April 2026?
The Banco de España has published the official mortgage market reference rates for April 2026 by means of the Resolution of 1 April 2026. The specific value of EURIBOR and the other indices is available in the official resolution published in the BOE under reference BOE-A-2026-7549.
Which official indices does the Banco de España publish for variable-rate mortgages?
The Banco de España publishes the following official indices on a monthly basis: EURIBOR, average rate on mortgage loans over three years, average rate on mortgage loans between one and five years in the euro area, MIBOR and other official mortgage market reference indices.
When are these rates applied to the review of my variable-rate mortgage?
Financial institutions are required to apply the values published by the Banco de España in the periodic reviews of mortgage contracts referenced to these indices. The review date depends on what was agreed in each individual mortgage contract.
What should I do if I have a variable-rate mortgage referenced to EURIBOR?
You should consult the values published in the Resolution of 1 April 2026 of the Banco de España (BOE-A-2026-7549) and verify with your financial institution when the next review of your instalment will take place, as the institution is required to apply these official indices.
How often does the Banco de España publish official mortgage interest rates?
The Banco de España publishes the official mortgage market reference interest rates on a monthly basis, as required by current regulations. The April 2026 resolution corresponds to the usual monthly publication, with entry into force on 1 April 2026.
Official source
View full regulation at official source
Disclaimer: This article is for informational purposes only and does not constitute legal advice. For specific decisions, please consult a qualified professional. Source: https://www.boe.es/diario_boe/txt.php?id=BOE-A-2026-7549