Spain mortgage rates 3.08% in August 2026, average loan EUR 181,285

The average rate on new Spanish dwelling mortgages was 3.08% in August 2026 and the average loan EUR 181,285, 7.7% higher than a year earlier, INE reported.

The facts

Spain's national statistics institute published its August 2026 mortgage statistics on 26 October 2026, as provisional data.
The average interest rate on new mortgages on dwellings was 3.08%, with an average term of 26 years.
33,841 mortgages were registered on dwellings, 2.3% more than in August 2025 and 22.0% fewer than in July 2026.
The average mortgage on a dwelling was EUR 181,285, up 7.7% on a year earlier and up 0.3% on the month.
Total capital lent on dwellings came to EUR 6,134,856 thousand, or about EUR 6.13 billion, down 21.8% on the month and up 10.2% on the year.
Fixed rates accounted for 64.1% of new dwelling mortgages and variable rates for 35.9%.

What it means for your money

A rate of 3.08% over 26 years on an average loan of EUR 181,285 is the entry cost of a leveraged Spanish purchase today.
Glopra's data puts Spain at USD 3,390 per square metre against an average monthly rent of USD 17.50 per square metre, a gross yield of 6.2%, so a 3.08% mortgage still leaves a positive spread before tax and transaction costs.
Total capital lent rose 10.2% over the year while the number of loans rose only 2.3%, so the growth is in ticket size rather than in the number of buyers.
For an owner already holding in Spain, 64.1% of new buyers locking a fixed rate means less of the market reprices when rates move, which steadies demand but also removes the refinancing lift a rate cut would bring.

What to watch

The August figures are provisional and are revised in later editions of the same series.
The 22.0% fall against July is an August seasonal effect, so the 2.3% change against a year earlier is the cleaner read.

Sources: INE https://www.ine.es/dyngs/Prensa/H0826.htm

Market data: Almeria · Murcia (Costa Calida) · Spain · Las Palmas