The mortgage firm in Spain grows 29.4% in January, according to the INE – Economy

The number of mortgages constituted on homes in Spain stood at 36,185 last January, which represented a year-on-year increase of 29.4% and the eleventh consecutive month on the rise.

The average amount of these mortgages was 141,427 euros, 9.5% more than a year earlier, according to data published this Monday by the National Statistics Institute (INE), which adds that the capital lent by the entities for this purpose grew by 41.7% year-on-year and stood at 5,117 million euros.

For the first time in the historical series, more than 70% of these home mortgages were signed with reference to a fixed interest rate, specifically 70.4%, explains the INE.

Likewise, the average mortgage to buy a home in January was 141,427 euros, with an interest rate of 2.54% and a repayment term of 24 years.

In January, 46,946 mortgages were signed for any type of property, of which 46,080 were on urban properties (including mortgages), which grew by 26.8% year-on-year, and the other 866 were signed on rustic properties, which were reduced by 14 % compared to January 2021.

The average amount of mortgages on the total number of properties registered in the property registries in January (from public deeds previously carried out) totaled 152,547 euros, 7.5% higher than in the same month of 2021.