Bank of Spain publishes reference rates for calculating compensation in early mortgage cancellations
10 Jun 2026Effective: 10 Jun 202694 views
Who is affected:
Holders of fixed-rate mortgage loans who cancel their mortgage early
Summary
The Bank of Spain updates the IRS indices for May 2026 to calculate compensation for interest rate risk in mortgages cancelled early. The rates range from 2.629% at one year to 3.275% at twenty years.
Detailed analysis
PRO
The Bank of Spain publishes these IRS (Interest Rate Swap) indices monthly in accordance with Circular 5/2012, of 27 June. They are essential for financial institutions to calculate compensation for interest rate risk when a customer cancels a fixed-rate mortgage early. For May 2026, the one-year IRS stands at 2.629%, …
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