The Rate Engine

Mortgage rates by European country

Twenty-one countries, most sharing a single currency and a single central bank — and a 2.40 percentage point difference in what a mortgage costs. Nobody else publishes this comparison.

2.40percentage points between Malta at 1.94% and Latvia at 4.34% — same currency, same central bank.

Reference month: 2026-07. These are the most recent figures the ECB has published. Bank interest rate statistics are monthly and appear roughly two months in arrears, so this is not a live rate — it is the most recent month for which the data exists, and we say so rather than implying otherwise.

Mortgage and deposit rates, 2026-07

#CountryMortgageDepositGap
1Malta1.94%2.09%-0.15
2Bulgaria2.43%1.65%0.78
3Spain2.89%2.01%0.88
4Croatia2.91%1.42%1.49
5Portugal2.98%1.59%1.39
6Finland3.18%2.58%0.60
7France3.18%2.46%0.72
8Slovenia3.20%1.28%1.92
9Greece3.27%1.27%2.00
10Cyprus3.29%1.26%2.03
11Ireland3.48%1.92%1.56
12Italy3.49%2.47%1.02
13Austria3.54%2.10%1.44
14Luxembourg3.56%1.84%1.72
15Belgium3.65%2.08%1.57
16Slovakia3.70%2.23%1.47
17Netherlands3.85%2.55%1.30
18Germany3.93%2.28%1.65
19Lithuania4.11%2.22%1.89
20Estonia4.24%2.23%2.01
21Latvia4.34%2.32%2.02
Euro area3.54%

Why one currency does not mean one rate

The ECB sets a single policy rate for the euro area, but a mortgage is priced by a bank, not a central bank. National differences in funding costs, competition, typical fixation periods, foreclosure law, and household credit risk all feed through. The result is that a borrower in Latvia pays 2.40pp more than one in Malta for the nominally identical product.

The figures are also not perfectly like-for-like. A “mortgage” means different things across these markets — different standard fixation periods, different treatment of fees. The ECB harmonises the definition as far as national reporting allows, which is further than any private comparison manages, but not perfectly.

Germany, France and the Netherlands since 2003

Three of the largest euro-area mortgage markets, on one axis. Capped at three series — a fourth line would put two hues on screen that readers with colour vision deficiency cannot reliably separate.

Mortgage rates, selected euro-area countries2003-01-012026-07-01
GermanyFranceNetherlands
Table view — 220 observations
DateGermanyFranceNetherlands
2026-07-013.93%3.18%3.85%
2026-06-013.95%3.16%3.71%
2026-04-013.84%3.11%3.63%
2026-03-013.72%3.1%3.47%
2026-02-013.77%3.1%3.54%
2026-01-013.76%3.05%3.5%
2025-11-013.7%3%3.47%
2025-10-013.71%2.99%3.49%
2025-09-013.75%2.99%3.48%
2025-07-013.68%3.01%3.5%
2025-06-013.68%3.01%3.59%
2025-05-013.67%3.02%3.53%
2025-04-013.69%3.03%3.12%
2025-02-013.59%3.01%3.57%
2025-01-013.54%3.11%2.98%
2024-12-013.57%3.14%3.7%
2024-10-013.69%3.27%3.77%
2024-09-013.78%3.33%3.89%
2024-08-013.89%3.37%3.92%
2024-07-013.96%3.4%3.94%
2024-05-013.95%3.48%3.83%
2024-04-013.91%3.49%3.88%
2024-03-013.87%3.5%3.81%
2024-01-013.86%3.59%4.01%
2023-12-014.05%3.6%4.08%
2023-11-014.22%3.52%4.07%
2023-10-014.15%3.43%3.76%
2023-08-014.1%3.31%3.92%
2023-07-014%3.16%3.89%
2023-06-014%3.04%3.86%
2023-04-013.89%2.71%3.62%
2023-03-013.85%2.54%3.5%
2023-02-013.76%2.35%3.52%
2023-01-013.64%2.2%3.46%
2022-11-013.62%1.91%3.22%
2022-10-013.28%1.77%3.06%
2022-09-013.03%1.68%2.85%
2022-07-012.82%1.45%2.43%
2022-06-012.57%1.35%2.21%
2022-05-012.25%1.26%2.03%
2022-03-011.65%1.14%1.77%
2022-02-011.45%1.13%1.67%
2022-01-011.35%1.12%1.67%
2021-12-011.32%1.1%1.65%
2021-10-011.28%1.13%1.65%
2021-09-011.26%1.13%1.65%
2021-08-011.27%1.12%1.66%
2021-06-011.3%1.12%1.68%
2021-05-011.27%1.14%1.7%
2021-04-011.23%1.15%1.71%
2021-03-011.19%1.18%1.75%
2021-01-011.19%1.24%1.79%
2020-12-011.16%1.24%1.84%
2020-11-011.18%1.27%1.85%
2020-09-011.22%1.3%1.88%
2020-08-011.24%1.31%1.89%
2020-07-011.27%1.29%1.86%
2020-06-011.34%1.26%1.86%
2020-04-011.26%1.36%1.87%
2020-03-011.23%1.19%1.91%
2020-02-011.29%1.19%1.92%
2019-12-011.29%1.17%2%
2019-11-011.27%1.2%2.39%
2019-10-011.27%1.23%2.09%
2019-09-011.29%1.27%2.16%
2019-07-011.5%1.34%2.25%
2019-06-011.58%1.39%2.3%
2019-05-011.63%1.44%2.33%
2019-03-011.74%1.5%2.43%
2019-02-011.78%1.51%2.44%
2019-01-011.86%1.5%2.41%
2018-12-011.85%1.48%2.41%
2018-10-011.86%1.51%2.42%
2018-09-011.86%1.51%2.41%
2018-08-011.87%1.53%2.41%
2018-06-011.89%1.55%2.46%
2018-05-011.91%1.57%2.41%
2018-04-011.89%1.57%2.4%
2018-03-011.89%1.58%2.4%
2018-01-011.82%1.61%2.38%
2017-12-011.79%1.6%2.41%
2017-11-011.84%1.64%2.43%
2017-09-011.86%1.65%2.42%
2017-08-011.87%1.65%2.42%
2017-07-011.82%1.62%2.44%
2017-06-011.82%1.61%2.42%
2017-04-011.85%1.57%2.42%
2017-03-011.82%1.54%2.4%
2017-02-011.82%1.54%2.38%
2016-12-011.66%1.5%2.38%
2016-11-011.61%1.56%2.4%
2016-10-011.62%1.6%2.4%
2016-09-011.65%1.68%2.49%
2016-07-011.73%1.77%2.58%
2016-06-011.76%1.85%2.59%
2016-05-011.8%1.97%2.64%
2016-03-011.83%2.18%2.69%
2016-02-011.96%2.26%2.76%
2016-01-011.98%2.31%2.79%
2015-12-011.95%2.32%2.76%
2015-10-012.05%2.25%2.82%
2015-09-012.04%2.21%2.86%
2015-08-012.06%2.18%2.87%
2015-06-011.86%2.17%2.88%
2015-05-011.79%2.25%2.88%
2015-04-011.88%2.31%2.95%
2015-03-011.89%2.42%2.98%
2015-01-011.97%2.55%3.11%
2014-12-012.13%2.6%3.11%
2014-11-012.17%2.67%3.14%
2014-09-012.31%2.82%3.25%
2014-08-012.41%2.87%3.31%
2014-07-012.46%2.94%3.33%
2014-05-012.62%3.08%3.43%
2014-04-012.71%3.14%3.5%
2014-03-012.72%3.17%3.49%
2014-02-012.82%3.19%3.51%
2013-12-012.81%3.17%3.62%
2013-11-012.87%3.17%3.61%
2013-10-012.85%3.1%3.62%
2013-08-012.76%3.08%3.67%
2013-07-012.67%3.09%3.7%
2013-06-012.62%3.12%3.72%
2013-05-012.68%3.19%3.79%
2013-03-012.78%3.27%4.01%
2013-02-012.77%3.32%4.03%
2013-01-012.75%3.33%4.06%
2012-11-012.8%3.46%4.07%
2012-10-012.83%3.54%4.14%
2012-09-012.86%3.63%4.19%
2012-08-012.92%3.67%4.21%
2012-06-013.03%3.83%4.31%
2012-05-013.18%3.91%4.35%
2012-04-013.3%3.95%4.4%
2012-02-013.39%4.02%4.51%
2012-01-013.46%3.98%4.53%
2011-12-013.49%3.94%4.54%
2011-11-013.54%3.95%4.53%
2011-09-013.73%3.93%4.62%
2011-08-013.96%3.95%4.69%
2011-07-014.02%3.89%4.71%
2011-05-014.15%3.8%4.65%
2011-04-014.08%3.7%4.58%
2011-03-013.97%3.64%4.46%
2011-02-013.89%3.54%4.35%
2010-12-013.6%3.42%4.29%
2010-11-013.52%3.44%4.28%
2010-10-013.45%3.46%4.31%
2010-08-013.62%3.55%4.45%
2010-07-013.57%3.62%4.48%
2010-06-013.68%3.66%4.51%
2010-05-013.8%3.7%4.59%
2010-03-013.89%3.82%4.72%
2010-02-013.98%3.87%4.78%
2010-01-014.04%3.89%4.85%
2009-11-014.06%3.99%4.89%
2009-10-014.1%4.07%4.91%
2009-09-014.14%4.13%4.92%
2009-08-014.21%4.15%4.99%
2009-06-014.22%4.3%4.89%
2009-05-014.21%4.4%4.85%
2009-04-014.26%4.59%4.87%
2009-02-014.5%4.97%5.11%
2009-01-014.75%5.2%5.27%
2008-12-014.89%5.34%5.45%
2008-11-015.21%5.27%5.6%
2008-09-015.39%5.18%5.56%
2008-08-015.48%5.05%5.52%
2008-07-015.42%4.98%5.38%
2008-05-015.14%4.86%5.16%
2008-04-015.08%4.87%5.12%
2008-03-015.04%4.89%5.13%
2008-02-015.09%4.9%5.2%
2007-12-015.21%4.85%5.23%
2007-11-015.22%4.81%5.21%
2007-10-015.23%4.73%5.21%
2007-08-015.31%4.51%5.11%
2007-07-015.26%4.37%5.01%
2007-06-015.14%4.26%4.93%
2007-05-014.99%4.23%4.85%
2007-03-014.91%4.19%4.74%
2007-02-014.92%4.17%4.7%
2007-01-014.81%4.11%4.65%
2006-11-014.77%4.07%4.61%
2006-10-014.74%4.01%4.58%
2006-09-014.78%3.96%4.59%
2006-07-014.75%3.82%4.45%
2006-06-014.69%3.77%4.36%
2006-05-014.62%3.69%4.25%
2006-04-014.52%3.65%4.21%
2006-02-014.34%3.63%3.94%
2006-01-014.35%3.52%3.87%
2005-12-014.28%3.51%3.78%
2005-10-014.12%3.51%3.7%
2005-09-014.11%3.57%3.68%
2005-08-014.13%3.6%3.73%
2005-07-014.14%3.65%3.71%
2005-05-014.32%3.76%3.9%
2005-04-014.42%3.77%3.91%
2005-03-014.4%3.79%3.89%
2005-01-014.48%3.92%3.88%
2004-12-014.53%3.91%3.92%
2004-11-014.64%4.04%4.09%
2004-10-014.7%4.06%4.26%
2004-08-014.81%4.05%4.34%
2004-07-014.76%4.07%4.3%
2004-06-014.75%4.06%4.27%
2004-04-014.68%4.21%4.28%
2004-03-014.78%4.23%4.4%
2004-02-014.87%4.28%4.52%
2004-01-014.95%4.26%4.52%
2003-11-014.92%4.24%4.49%
2003-10-014.81%4.21%4.42%
2003-09-014.83%4.17%4.33%
2003-07-014.6%4.24%4.22%
2003-06-014.76%4.43%4.31%
2003-05-014.91%4.48%4.51%
2003-04-014.99%4.59%4.52%
2003-02-015.13%4.85%4.69%
2003-01-015.32%4.8%4.84%

Euro area average since 2003

Euro area mortgage rate2003-01-012026-07-01
Table view — 220 observations
DateEuro area
2026-07-013.54%
2026-06-013.51%
2026-04-013.44%
2026-03-013.35%
2026-02-013.37%
2026-01-013.35%
2025-11-013.3%
2025-10-013.31%
2025-09-013.31%
2025-07-013.28%
2025-06-013.3%
2025-05-013.3%
2025-04-013.27%
2025-02-013.33%
2025-01-013.25%
2024-12-013.39%
2024-10-013.55%
2024-09-013.64%
2024-08-013.73%
2024-07-013.75%
2024-05-013.81%
2024-04-013.81%
2024-03-013.8%
2024-01-013.87%
2023-12-013.98%
2023-11-014.03%
2023-10-013.92%
2023-08-013.86%
2023-07-013.77%
2023-06-013.71%
2023-04-013.49%
2023-03-013.38%
2023-02-013.25%
2023-01-013.11%
2022-11-012.89%
2022-10-012.67%
2022-09-012.45%
2022-07-012.15%
2022-06-011.97%
2022-05-011.78%
2022-03-011.47%
2022-02-011.38%
2022-01-011.33%
2021-12-011.31%
2021-10-011.31%
2021-09-011.3%
2021-08-011.31%
2021-06-011.32%
2021-05-011.32%
2021-04-011.31%
2021-03-011.31%
2021-01-011.33%
2020-12-011.32%
2020-11-011.35%
2020-09-011.38%
2020-08-011.4%
2020-07-011.4%
2020-06-011.42%
2020-04-011.44%
2020-03-011.39%
2020-02-011.41%
2019-12-011.41%
2019-11-011.47%
2019-10-011.45%
2019-09-011.49%
2019-07-011.62%
2019-06-011.68%
2019-05-011.72%
2019-03-011.79%
2019-02-011.8%
2019-01-011.82%
2018-12-011.8%
2018-10-011.8%
2018-09-011.79%
2018-08-011.81%
2018-06-011.82%
2018-05-011.83%
2018-04-011.83%
2018-03-011.84%
2018-01-011.84%
2017-12-011.83%
2017-11-011.87%
2017-09-011.89%
2017-08-011.91%
2017-07-011.88%
2017-06-011.87%
2017-04-011.87%
2017-03-011.85%
2017-02-011.85%
2016-12-011.78%
2016-11-011.79%
2016-10-011.81%
2016-09-011.86%
2016-07-011.92%
2016-06-011.96%
2016-05-012.02%
2016-03-012.11%
2016-02-012.2%
2016-01-012.23%
2015-12-012.22%
2015-10-012.26%
2015-09-012.25%
2015-08-012.26%
2015-06-012.18%
2015-05-012.18%
2015-04-012.24%
2015-03-012.29%
2015-01-012.4%
2014-12-012.48%
2014-11-012.53%
2014-09-012.66%
2014-08-012.73%
2014-07-012.78%
2014-05-012.91%
2014-04-012.97%
2014-03-013%
2014-02-013.04%
2013-12-013.05%
2013-11-013.07%
2013-10-013.06%
2013-08-013.03%
2013-07-013%
2013-06-012.98%
2013-05-013.03%
2013-03-013.13%
2013-02-013.15%
2013-01-013.14%
2012-11-013.21%
2012-10-013.25%
2012-09-013.3%
2012-08-013.36%
2012-06-013.48%
2012-05-013.58%
2012-04-013.64%
2012-02-013.77%
2012-01-013.78%
2011-12-013.75%
2011-11-013.74%
2011-09-013.8%
2011-08-013.89%
2011-07-013.86%
2011-05-013.83%
2011-04-013.74%
2011-03-013.63%
2011-02-013.55%
2010-12-013.36%
2010-11-013.34%
2010-10-013.31%
2010-08-013.4%
2010-07-013.36%
2010-06-013.39%
2010-05-013.45%
2010-03-013.54%
2010-02-013.61%
2010-01-013.63%
2009-11-013.69%
2009-10-013.74%
2009-09-013.78%
2009-08-013.86%
2009-06-013.95%
2009-05-013.98%
2009-04-014.09%
2009-02-014.49%
2009-01-014.78%
2008-12-015.13%
2008-11-015.43%
2008-09-015.55%
2008-08-015.54%
2008-07-015.43%
2008-05-015.18%
2008-04-015.11%
2008-03-015.1%
2008-02-015.15%
2007-12-015.19%
2007-11-015.18%
2007-10-015.17%
2007-08-015.08%
2007-07-014.99%
2007-06-014.9%
2007-05-014.8%
2007-03-014.7%
2007-02-014.66%
2007-01-014.59%
2006-11-014.5%
2006-10-014.46%
2006-09-014.41%
2006-07-014.26%
2006-06-014.18%
2006-05-014.09%
2006-04-014.02%
2006-02-013.86%
2006-01-013.8%
2005-12-013.72%
2005-10-013.61%
2005-09-013.61%
2005-08-013.63%
2005-07-013.64%
2005-05-013.77%
2005-04-013.81%
2005-03-013.82%
2005-01-013.87%
2004-12-013.9%
2004-11-013.98%
2004-10-014.02%
2004-08-014.07%
2004-07-014.04%
2004-06-014.04%
2004-04-014.03%
2004-03-014.11%
2004-02-014.19%
2004-01-014.22%
2003-11-014.21%
2003-10-014.17%
2003-09-014.16%
2003-07-014.1%
2003-06-014.24%
2003-05-014.39%
2003-04-014.47%
2003-02-014.67%
2003-01-014.81%

Source

Source
European Central Bank
Observation date
Vintage
Retrieved

European Central Bank, ECB Data Portal.