In June, the 12‑month EURIBOR, the benchmark rate for mortgage lending across the euro area, was reported at 2.798%. This figure represents an increase of 0.717 basis points compared with the level recorded a year earlier, according to the Bank of Spain. The rate, published by the Banco de España as part of its monthly statistical bulletin, reflects the cost of borrowing for banks and is used as a reference for variable‑rate mortgages. The slight rise indicates a modest tightening of short‑term lending conditions. The Bank of Spain will continue monitoring euro‑area interest rates and publishing updates in subsequent releases.
© Banco de España 2009.
Summary adapted from material on the Banco de España website (https://www.bde.es ).
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