May 10, 2021

The mortgage firm grows up to 9.5% in September – The Province

The mortgage firm grows up to 9.5% in September - The Province


The number of mortgages constituted on dwellings registered in the property registries was placed in32,457last September, figure that is a9.5% higher than the same month of 2017 and the highest since June 2011, as reported by the National Institute of Statistics (INE) this Friday.

With this year-on-year rebound, the mortgages signature on housingChains six months of positive ratesand it increases the increase registered in August, which was 6.8%. The INE recalls that these are mortgages from public deeds made previously.

The average amount of mortgages on homes grew by 4.1%compared to September 2017, up to 127,732 euros, while borrowed capital increased 14% year-on-year, to stand at 4,145.8 million euros.

In monthly rate (September on August), mortgages on housingthey increased by 12.9%, above the increase of 10.1% in the same month of 2017, while the capital loaned rose 17.8%, registering its lowest rebound in the last five years.

The communities with the largest number of mortgages constituted on housing in September wereMadrid (6,530), Andalusia (6,282) and Catalonia (5,246).

The highest annual variation rates were inThe Rioja(+ 67.4%), Extremadura (+ 34.4%) and Asturias (+ 26.7%). The only year-on-year decreases in home mortgages corresponded to the Balearic Islands (-7.5%), Castilla y León (-6.1%), Aragón (-4.7%) and Canarias (-2.5%).

The average interest rate for mortgage loans on housing reached last September the2.59%, compared to 2.83% in the same month of 2017, with an average term of 24 years.

59.9% of mortgages on housing was made at a variable rate, in contrast to the 40.1% that was signed at a fixed rate. The average interest rate at the beginning for mortgages on variable-rate homes stood at 2.36%, compared to 3.02% for fixed-rate mortgages.

They raise the mortgaged farms

According to the data of the statistical agency, during the ninth month of the year44,132 mortgages were created on rural and urban estates(within the latter, housing is included), a figure that represents an increase of 8.3% compared to September 2017.

The capital of the mortgages granted rose 15.4% with respect to the same month of 2017, to 6,573.7 million euros, while the average amount of the mortgages constituted on the total of properties amounted to 148,956 euros, a 6.6% more.

The average interest rate at the beginning for the total number of farmsit stood at 2.64%, 1.5% lower than September 2017, with an average term of 23 years. For variable rate mortgages, which represent 61.6% of the total, the average interest rate was 2.35% at the beginning, while it stood at 3.24% for fixed rate mortgages.

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