Mortgage delinquency drops to 4.33% in September and the promoter to 10 percent

Mortgage delinquency drops to 4.33% in September and the promoter to 10 percent



The delinquency of the credits granted for the purchase of a house fell in the third quarter of the year to 4.33%, minimum since March 2013, while that registered by the developer and real estate sector was reduced to 10%, its level lowest since September 2009.

The Bank of Spain today published this data for the third quarter of the year, together with the total delinquency rate of financial institutions operating in Spain – banks, savings banks, cooperatives and credit financial institutions – which fell in October to 6 , 08%.

According to data from the Bank of Spain, both the delinquency rate of the total credit portfolio of banks, and the specific rate of credits for the purchase of housing or property development activities have been reduced.

The same data indicate that the credit for the purchase and rehabilitation of a home was reduced in the third quarter of the year to 517,118 million euros, compared to 519,259 million in June.

Within this portfolio, delinquent or unpaid mortgages were also reduced, to 22,394 million euros, compared to 23,086 million in the previous quarter.

The Bank of Spain also published today the figure of the delinquency of the credit granted to the real estate developer sector, which in the third quarter of the year was reduced to 10%, from 11.30% in the previous quarter.

A year earlier, this delinquency rate reached 20.27%.

In June 2014, it reached over 38%.

Data from the Bank of Spain indicate that the credit granted by financial institutions to companies in the development sector was substantially reduced to 97,022 million euros, compared to 100,952 million in June.

Of this volume (97,022 million), 9,707 million euros were doubtful, an amount also lower than the 11,405 million recorded during the previous quarter.

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