Overview

• On June 3 the euribor rose slightly to 2.070%, reversing part of May’s drop to 2.081%.
• Variable-rate mortgage holders in Galicia are saving around €100 a month compared with this time last year.
• Galicia granted 637 new build permits in January and February, marking a 55% increase over the same period in 2024.
• Markets are focused on the ECB’s June 5 meeting for signs of further rate cuts that could push the euribor below 2%.
• Banks including BBVA, Kutxabank, Banco Mediolanum and Ibercaja have introduced competitive euribor-linked mortgage offers to capture rising demand.