The constitution of mortgages shoots up 20.4% in October and chains seven consecutive months of increases
MadridUpdated:
The number of mortgages constituted on dwellings registered in the registries of the property it stood at 30,356 last October, a figure 20.4% higher than the same month of 2017, as reported by the National Institute of Statistics (INE) on Wednesday.
With this year-on-year rebound, the mortgages signature on housing chains seven months of positive rates and it increases the increase registered in September, which was 9.5%.
The INE has recalled that these are mortgages from public deeds previously made, so The impact of the Supreme Court ruling can not be seen, published on October 18, which established that the banks and not the customer should pay the tax of Documented Legal Acts (AJD).
This failure has been rectified by the High Court on November 6, but in the period between the two sentences there was a certain paralysis of the mortgages granted by the banks, according to sources at the time.
According to the data released today by the INE, the average amount of mortgages on houses has grown by 4.6% compared to October 2017, up to 126,926 euros, while borrowed capital increased 25.9% year-on-year, to stand at 3,852.9 million euros.
Falls in month-on-month rate
In monthly rate (October on September), Mortgages on homes have fallen by 6.5%, while the borrowed capital has fallen by 7.1%. In both cases, it is the lowest decrease registered in a month of October in at least five years.
The communities with the largest number of mortgages constituted on housing in October were Andalusia (5,984), Madrid (5,862) and Catalonia (5,808). The average interest rate for mortgage loans on housing reached 2.63% last October, compared to 2.69% in the same month of 2017, with an average term of 24 years.
