The number of mortgages issued on homes in Spain stood at 44,119 in September, the highest number for this month since 2010when some 53,000 mortgages were signed, according to data from the National Institute of Statistics (INE).
mortgages grow by 4% over a year ago, adding up to 19 months.
The average amount increased by just 0.5% year-on-year to 143,222 eurosand decreased by 1.4% compared to the previous month, while the capital lent by the various entities amounted to 6,318 million euros, 4.6% more than a year ago and 18.4% more than in August.
Of the new mortgage production recorded in September, the 68.2% of loans have been signed with reference to a type of fixed interesta percentage that has not been less than 70% since December 2021, while 31.8% of home loans are made up of variable rates.
The type of average interest of home loans was 2.47%, almost a quarter of a point higher than the average Euribor for that month, equal to 2.23%. At a fixed rate the interest was 2.7%, while at a variable rate the percentage was 1.96%.
More mortgages in Madrid
For autonomous communities, those in which the largest number of mortgages on houses were established in September were the Communities of Madrid (8,836), Andalusia (7,769) and Catalonia (7,683).
The regions where it was provided more capital for the establishment of these home loans were Madrid (1,645.2 million euros), Catalonia (1,289.2 million) and Andalusia (979.1 million). And those with the highest annual rates of change in loaned capital were Galicia (37.8%), Aragon (21.1%) and Cantabria (20.9%).
Due to the nature of the farm, the mortgages established on the houses concentrated the 70.3% of the total capital lent in September, just below the 71.8% corresponding to the previous month.
more expensive farms
The average amount of mortgages on the total properties registered in the property registers in the month of September (from public deeds carried out previously), stands at 157,973 euros, 7.1% more compared to the same month in 2021.
For mortgages established on total properties in the month of September, the the average interest rate at the beginning was 2.59% and the average duration of 23 years; 33.3% of mortgages are variable rate and 66.7% are fixed rate.
The total number of mortgages with there were 11,140 changes in their conditions, 45.4% less yoy Of this figure, 8,799 were novations (modifications agreed with the bank itself), which decreased by 47.5%. The number of mortgages with a change of entity (subrogations to the creditor) decreased by 33% and the number of mortgages with a change of owner (subrogations to the debtor) by 41.9%.
