The current mortgage market is characterized by the stabilization of interest rates after years of volatility. In 2026, banks in Spain are working with a projected Euribor rate of around 2.2%–2.4%, allowing for a clearer comparison of fixed and variable rate mortgages.
At Immosegur, we have conducted a realistic simulation for a €250,000 property, with 80% financing (€200,000 over 25 years), typical conditions in the current market.
For a fixed-rate mortgage, bank offers are approximately between 3.0% and 3.5% APR, depending on the client's profile. With an average rate of 3.2%, the monthly payment would be around €970–€1,000, remaining stable throughout the loan term. The main advantage is stability: the client knows exactly what they will pay, without depending on market fluctuations.
In the case of a variable-rate mortgage, the current typical spread is Euribor +0.60% to +0.90%. Taking an example of Euribor at 2.3% + 0.75%, the resulting rate would be approximately 3.05%. In this initial scenario, the monthly payment would be very similar, around €950–€980, but with a key difference: the semi-annual or annual review.
If Euribor were to fall to 2%, the monthly payment could be reduced to around €900, but if it were to rise to 3%, it could exceed €1,050. In other words, a variable-rate mortgage introduces an element of uncertainty that can be beneficial or detrimental depending on economic performance.
At Immosegur, we observe a clear trend: conservative borrowers continue to opt for fixed-rate mortgages, while younger buyers or those with a higher risk tolerance tend to choose variable or mixed rates.
The final decision depends not only on the initial cost, but also on job stability, savings capacity, and the intended stay in the home. In a still volatile market, financial planning is more important than ever.