The six banks under CNMC scrutiny blame market aggressiveness, not a 'floor' agreement, for fixed-rate mortgages

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Six major Spanish banks are defending their mortgage pricing after the CNMC opened an antitrust investigation into their fixed-rate mortgage practices. They argue that intense competition, including pressure from neobanks and other lenders, explains the low prices rather than any coordinated pact. The article also notes that Spanish mortgage rates remain below the eurozone average and that the Bank of Spain does not currently see a need for severe restrictions. The case could affect how banks compete on mortgages and how they document commercial policy and risk controls during the investigation.

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