Mortgages Grew by 16% in February and the Capital Loaned Soared by 65%

In February, 36,050 mortgages were constituted on homes, up by 16.1% compared to the same month in 2019, according to INE. The volume of capital loaned soared by 64.8% in inter-annual terms, albeit pre-coronavirus.

In February, 36,050 mortgages were constituted on homes, as recorded in the property registers, up by 16.1% compared to the same month in 2019, according to the National Institute of Statistics (INE). Meanwhile, the capital loaned soared by 64.8% in inter-annual terms, albeit pre-coronavirus.

With this data, the signing of home mortgages has registered three consecutive months of increases after rising by 43% in December and by 6.1% in January.

INE: Mortgages Increased By 20.2% In September

27 November 2015 – ABC

The signing of new mortgages for home purchases rose by 20.2% YoY in September, with 23,828 new mortgage loans granted during the month.

According to data published by Spain’s National Institute of Statistics on Thursday, the increase is slightly higher, 23.6%, if we compare the figures with those from the previous month.

In total, the volume of mortgages granted to purchase homes in September amounted to just over €2,619 million, which represented a 24.3% increase compared with the same month in 2014, and a 30.3% increase compared with the previous month.

This data from INE shows that 36,010 mortgages were signed in total, for all types of properties including urban land, representing a YoY increase of 18.7% and a MoM increase of 24.4%. The value of these mortgages amounted to €4,785 million, i.e. 23.9% more than in September 2014 and 9.1% more than a month earlier.

54.7% of the mortgages signed in September were granted for homes, according to INE. The data also reveals that 90.3% of mortgages had variable interest rates, compared with 9.7% that had fixed interest rates.

Euribor was the most typically used reference rate for the constitution of variable rate mortgages; specifically it was used for 94.3% of all new contracts. The average interest rate, at the beginning of the term, for mortgage granted over homes was 3.34%, which represented a 7.1% decrease compared with the same period in 2014.

By autonomous region, those that registered the highest number of home mortgages in September were: the Community of Madrid (4,949), Andalucía (4,330) and Cataluña (3,755). The regions with the highest YoY variations were the Balearic Islands (74%), Cataluña (34.3 %) and Cantabria (33%).

The regions in which the highest amount of capital was loaned for the constitution of home mortgages were: the Community of Madrid (€776.1 million), Cataluña (€446.7 million) and Andalucía (€398.0 million).

The regions with the highest positive monthly variations in terms of the number of mortgages granted for homes were: Cataluña (47.5%) and the Community of Madrid (43.4%).

Meanwhile, the only regions that recorded negative monthly rates were La Rioja (-39%), Cantabria (-14%), Galicia (-11.2%) and Asturias (-1.1%).

Original story: ABC

Translation: Carmel Drake

Bank Of Spain: Demand For Home Loans Increases Again

28 January 2015 – Expansión

The bank loan survey carried out by the Bank of Spain and the main Spanish financial institutions shows that “requests from families for home loans increased in January, after remaining stable during the previous three months in Spain and continued their progress in the Eurozone”. The report explains that “the main drivers of this development was an improvement in the prospects of the housing marketing and an increase in consumer confidence”.

Just yesterday, INE reported that the mortgage market grew in November for the sixth consecutive month, this time by 14.2% with respect to November 2013. Specifically, 15,900 new home loans were signed in November, 10.1% fewer than the 17,687 taken out in October. The average mortgage amounted to €104,817 in November, compared with €99,866 in the previous month, representing an increase of 5%.

Management of, the real estate portal, interviewed by Efe, considers that these data confirm that “the desired reactivation of mortgage financing” was achieved in 2014, as a result of “increased activity in the economy, better prospects for the real estate market and the need for banks to do business following the liquidity crisis”.

In this sense, the Bank of Spain’s survey explains that the criteria for approving new loans were “somewhat less restrictive” for home loans than for unsecured loans.

In terms of corporate loans “the growth in requests for loans by SMEs was higher than those for large companies in Spain”.

Original story: Expansión (by Y. González)

Translation: Carmel Drake