The number of mortgages constituted on homes increased by 29.4% last January in annual rate, up to 36,185 loans, although the volume of mortgaged homes remained below the more than 40,000 that were signed in January 2020, before the pandemic. However, the most notable data of the statistics is the historical record of the fixed rate.
The advance for January published this Monday by the National Institute of Statistics (INE) exceeds the data registered in December (23.3%) by more than six points and leads the home mortgage firm to chain 11 months of consecutive year-on-year increases .
The average amount of mortgages constituted on dwellings increased by 9.5% year-on-year at the start of the year, up to 141.427 euros, while the borrowed capital grew by 41.7%, to 5,117.5 million euros.
By autonomous communities, those that registered the highest number of mortgages constituted on homes in January 2022 were Andalusia (7,644), Madrid (6,063), Catalonia (5,833) and the Valencian Community (4,050).
In all communities, more mortgages on homes were signed in January than in the same month of 2021 except in Navarra, where they descended 26.7%. In contrast, the communities with the highest year-on-year growth were Asturias (+51.7%), La Rioja (+51.3%), Comunidad Valenciana (+42.6%) and Andalucía (+37%).
70.4%, at a fixed rate
On a month-on-month basis (January 2022 over December 2021), home mortgages rose 10%, while borrowed capital increased 6.9%. Both data improve the monthly records for January 2021, but not those for 2020.
29.6% of home mortgages were arranged last January at a variable rate, while 70.4% were signed at a fixed rate, the highest percentage in the historical series. The average interest rate at the beginning was 2.21% for home mortgages at a variable rate and 2.69% for fixed rate mortgages.
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