What is Euribor interest rate?

Euribor interest rate explained

Euribor is the interest rate at which European banks lend to each other. Mortgages in Spain are often based on this variable interest rate. There are 5 different Euribor interest rates, each with different maturities. The level of Euribor interest rates - besides the market forces of bank supply and demand - are determined by the growth of economies, the level of inflation, the creditworthiness of banks and mutual and consumer confidence.