Number of Residential Mortgages Diminishes by 23.2% in October

In September, the slump exceeded 30%. The new drop-off indicates that the number of new mortgages is equal to 14.704 operations and represents already 42 months of fall. (…)

An average amount of an residential mortgage has rised in October up to 103.246 Euros, a monthly upturn by 6.1%, and it has smoothed in annual terms by 2.5%.

The total capital lent for the house purchase reduced in October by 21.3% of the annual rate to 1.518 million Euros, although it rised by 5% compared to September.

At the monthly rate (October to September) the residential mortgages went down by 1%, which is the smallest drop since 2009. The capital lent for the mortgaged property noted down a monthly rise of 5%, which is the highest score in the past 5 years.

Taking into account the decline from October, the mortgages has suffered the loss of 27.7% during the first 10 months of the year in comparison to the same period in 2012, with regression of 30.7% in the capital lent and 4.1% in the average amount.


Source: Expansión