The Confederation of Businessmen of Cuenca analyzes that high inflation and the rise in interest rates have had a clear effect on the constitution of these credits if the data published by the National Institute of Statistics is taken into account.
The Confederation of Businessmen of Cuenca points out that the mortgages constituted in the province of Cuenca are in the worst record of the last four years.
In this sense, the INE data indicate that the firms of these credits are clearly suffering from the inflation that paralyzes the granting of this type of loan, as well as from the growth of interest rates that have not stopped the escalation of costs. , but they have made these banking products considerably more expensive.
It is clear, says CEOE CEPYME Cuenca that the mortgage market is adjusting and this is also noticeable in a lower number of changes in these credits.
Analysts from the Confederation of Businessmen of Cuenca are surprised by the increase in the amount of operations due to a month of March that doubles the records of the previous year.
constitutions
From January to March 2023, 348 mortgages have been constituted in the province of Cuenca, being 102 less than in the same period of the previous year, decreasing by -22.66%.
MONTHS |
2020 |
2021 |
2022 |
2023 |
January | 136 | 89 | 131 | 103 |
February | 166 | 115 | 156 | 111 |
March | 120 | 166 | 163 | 134 |
TOTAL |
422 |
370 |
450 |
348 |
We are facing the worst mortgage firm record in the last four years with 22 fewer mortgages and -5.95% less than in 2021 and also 74 fewer firms than in these same months of 2020, a decline of -17.54% .
The month of March in Cuenca has closed with 134 mortgages signed, still 29 less than the 163 registered in this month of 2022, a percentage decline of -17.80%.
Imported
CEOE CEPYME Cuenca is surprised by the notable increase in the amount of mortgages from January to March 2023 over last year due to a month of March 2023 that has triggered the cost of these loans.
Specifically, in the first three months of 2023, mortgages are signed for an amount of 58,421 thousand euros, a figure 10,689 thousand euros higher than this period of 2022, increasing by 22.39%.
For the Confederation of Businessmen of Cuenca, it is strange that the volume of credits increases at a time when the market is adjusting, although it is also true that they are becoming much more expensive.
CEOE CEPYME Cuenca points out that we will have to be aware of the behavior of the coming months to see if this increase in the cost of mortgages is due to something temporary or the increase in prices is consolidated.
The month of March was decisive in this change with the signing of mortgages for 42,069 thousand euros, doubling the figure registered last year in the same month with 20,442 thousand euros.
MONTHS |
2020 |
2021 |
2022 |
2023 |
January | 10.196 | 6.436 | 12.249 | 8.108 |
February | 18.068 | 8.748 | 15.041 | 8.244 |
March | 8.255 | 12.667 | 20.442 | 42.069 |
TOTAL |
36.519 |
27.851 |
47.732 |
58.421 |
Regarding the amount of mortgages, in relation to the first third of 2023, we are also facing the highest figure in the last four years with 30,570 thousand euros and 109.76% over these days of 2021 and 21,902 thousand euros. euros and 59.97% more if the comparison is with these days of 2020.
With this dynamic, the average amount of mortgages also grows to stand at 167.87 thousand euros from January to April 2023, compared to 106.07 on these same days in the first four months of the previous year.
Changes
The change data registered by the INE in the first four months of 2023 is due, in the opinion of CEOE CEPYME Cuenca, to the adjustment of these credits, since it is more difficult to obtain these loans and they are more expensive, the most normal thing is that they are make fewer changes and less need to make further modifications.
Thus, from January to March 2023, there have been 67 changes in registered mortgages, which places it 77 variations below those that were recorded in these days of 2022, a decrease of -53.48%.
The majority change in both years is novation, but while in the first four of 2023 42 were registered, on these dates in 2022 there were 113, therefore 71 less and a decrease of -62.48%.
CHANGES | novation | debtor subrogation | creditor subrogation | Total | ||||
2022 | 2023 | 2022 | 2023 | 2022 | 2023 | 2022 | 2023 | |
January | 28 | 10 | 0 | 0 | 6 | 5 | 34 | 15 |
February | 44 | 18 | 0 | 0 | 5 | 15 | 49 | 33 |
March | 41 | 14 | 0 | 0 | 20 | 5 | 61 | 19 |
TOTAL | 113 | 42 | 0 | 0 | 31 | 25 | 144 | 67 |
Regarding the subrogations of the creditor or changes of the mortgage payer, they have occurred from January to March 203 in 25 opportunities, 6 less than in these days of 2022, a decline of -19.36%.
Likewise, both in the first three months of 2023 and in this same period of the previous year, there was no subrogation of the debtor or change of the mortgage company.
2023-06-14 08:05:18
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