Spain average mortgage rate rises to 3.07% in August 2026

The average interest rate on new home loans from banks in Spain was 3.07% in August 2026, according to the Banco de España. The measure covers new business across all fixation periods. It reflects the rates on mortgages signed during the month, whatever length of time the rate is fixed for. Housing Market Group calculates that the average rose by 0.16 percentage points from July 2026, when it stood at 2.90%.

The August figure follows a gradual climb through the spring and summer of 2026. Banco de España data put the average rate at 2.82% in April 2026 and 2.87% in May 2026. It reached 2.90% in June 2026 and stayed there in July 2026 before moving higher in August 2026. Each month in this sequence was either level with or above the month before, so the rate has not fallen at any point since April 2026.

The increase is also visible over the year. The Banco de España reports that the average rate on new bank mortgages in Spain was 2.69% in August 2025. HMG calculates that the August 2026 figure is 0.38 percentage points higher than in August 2025. Households taking out a new bank loan in Spain in August 2026 therefore faced a higher average rate than those who borrowed in the same month a year earlier.

Spain remains below Germany on this measure. According to the Deutsche Bundesbank, the average interest rate on new bank mortgages across all fixation periods in Germany was 4.01% in August 2026, compared with 3.07% in Spain in the same month. Rates rose in both countries over the year. HMG calculates that the German average increased by 0.3 percentage points between August 2025 and August 2026, while the Spanish average increased by 0.38 percentage points over the same period. The annual rise in Spain was therefore slightly larger than in Germany, although the Spanish rate stayed below the German one in August 2026.

These figures are national averages for new bank lending. They do not show how rates differ between regions or cities within Spain, or between types of loan. Individual offers can vary with the lender, the loan size, the fixation period chosen and the borrower's circumstances. Taken together, the Banco de España data show that the average cost of a new mortgage in Spain has moved upward since April 2026 and stood higher in August 2026 than a year earlier, while staying below the comparable average reported for Germany.