The average rate at which Spanish entities granted mortgage loans in February was 1.481%, compared to 1.485% in Januarywhile in the second month of 2021 it stood at 1.565%, according to data from the Bank of Spain collected by the Spanish Mortgage Association (AHE).
Thus, the average rate of mortgage loans for more than three years for the purchase of free housing granted by entities in Spain has fallen to 1.481%, after a rise to 1.485% was registered in January after the level registered in December last year, when the average rate stood at 1.448%.
However, the average mortgage rate remains above the average level recorded in the last 12 monthssince in November 2021, it stood at 1.412%.
In this context, the Euribor, the index to which most Spanish mortgages are referenced, closed the month of February at -0.335%, at a maximum of 20 months, and there are already analysts who warn of its return to positive territory . Caixabank Research, for example, suggests that it will be this year, while economists and mortgage market experts warn that we are at the beginning of the end of the era of the cheapest mortgages in history.
For its part, the average rate of mortgage loans between one and five years for the purchase of free housing granted by credit institutions in the euro area was 1.460% (referred to the previous month).
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