Equivalent of the LIBOR in the UK, Euribor is the inter-bank rate in the euro zone, and recently has been a great illustration of the banks' reluctance to lend to each other
But it has been falling steadily since the co-ordinated base rate cuts, and the 12 month rate is today teetering on the brink of falling through the 4% level
With banks in Spain adding a margin on top of this, we should begin to see variable mortgage rates in Spain under the 5% mark. And it has been a while since we have seen this.
Loan-to-value, however, is another issue entirely.
Check out the mortgage site at www.europamortgages.com
and our sister site with the cool name www.amortgageinspain.com