Outstanding Mortgages Diminish by 10.7% Year-On-Year

25/04/2014 – El Mundo

Outstanding amount of Spanish mortgages shrank in January and February 2014 to €754.7 billion, that is by 1.2% in comparison to the same months in 2013. 

According to data provided by the Spanish Mortgage Association (or AHE), in February the credit volume declined by 0.6% in month-on-month terms and it turned out that in comparison to February 2013, the outstanding mortgages disappeared by 10.7%. 

Banks and savings bank own almost the total, €688.7 billion, but still the amount is by 1.3% smaller than in January and February last year.

February concluded with a 1.2% decline to total of €763 billion. Securitised mortgage loans fell by 1.7% to €8.3 billion. Total securitised outstanding credit amassed €131.1 billion that is a 10.3% fall in regard to the same month in 2013 and by 2.2% in comparison with January and February this year.

 

 

Original article: El Mundo

Translation: AURA REE

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