Mortgage Outstanding Declined by 14.1% in November

20/01/2014 – El Mundo

In Spain, the mortgage outstanding rate fell by 14.1% in November in regard to the same month last year to 778.048 million, according to the data provided by the Spanish Mortgage Association (AHE).

In November, this credit volume depreciated 0.65% in respect to October, and marked a 10.39% fall since the beggining of the year. 

Banks and savings banks granted almost all the mortgages outstanding for €710.046 million, but still the amount shows a 14,73% drop if compared to 2012 numbers.

When it comes to the overcome credit volume, November ended with a 13.94% decrease, down to €786.632 million. However, the secured mortgage assets being out of its balance went up by 3.14% to €8.583 million.

Secured mortgage assets outstanding assumed €130.048 million at the end of November, 14.43% less than a year before.


Original article: El Mundo

Translation: AURA REE