The Euribor rate, the tracker rate used to set most mortgages in Spain, has fallen to an all time low, dropping to a daily rate of 1.9%.

Those who are in the market to purchase a new Home in the Sun will definitely benefit from these more favourable rates and those who already have existing mortgages will see the saving when their mortgage is reviewed.

Many financial experts are predicting that the Euribor rate will drop to 0.5% by the of the year.