Overview

• Euribor’s May average closed at 2.081%, down 0.063 points from April’s 2.143%
• The current level is the lowest since August 2022 and 1.6 points below May 2024’s 3.68%
• Variable-rate borrowers face monthly savings of €130–€260 on annual rate revisions tied to the new Euribor figure
• iAhorro analysts forecast that a 25-basis-point cut at the June 5 ECB meeting will drive Euribor under 2% by month-end
• Spanish banks have already trimmed mortgage offers ahead of the ECB decision, with further adjustments likely afterward