The mortgages firm for housing increased 14.2% in November

The mortgages firm for housing increased 14.2% in November


The signing of new mortgages for the purchase of housing grew by 14.2% in November in year-on-year comparison and fell 5% with respect to the previous month, decline similar to that experienced in October, which indicates that the impact of the decree on the tax of legal acts is not yet perceived.

According to the provisional data published by the National Institute of Statistics (INE), In November 28,835 contracts were signed for the acquisition of a home, far from the annual maximum of September, 32,457.

After two controversial decisions of the Supreme Court on the payment of the tax of documented legal acts (AJD), the government approved in November a decree that obliges the bank to take charge of the tax, a rule that in the opinion of the experts could cause a slight adjustment.

In total, the capital lent in November by banks, savings banks and cooperatives to its clients to acquire a home added 3,767.3 million euros, 2.2% less than a month before and 20.4% more than in the same month of 2017; in October, the monthly decrease was 7.1%.

Of that figure, 64.9% corresponds to mortgages constituted on housing. The Average amount of mortgages registered that month in the records of the property was 130,651 euros, 2.9% more than in October and 5.5% more than a year earlier.

They continue to increase the fixed

Of the 28,835 contracts signed in November, 39.3% were formalized with reference to a fixed interest rate, which represents an increase of 18.1% over the previous year.

The average amount of mortgages -not only for the purchase of housing- inscribed in the property registers in November (from public deeds made previously) is 141.708 euros, 3.2% less than a year before.

The value of the mortgages constituted on urban farms was 5,598.1 million euros, 13.7% more than in November 2017, and in housing, the borrowed capital stood at 3,767.3 million, with an annual increase of 20.4%.

Regarding the interest rate, for the group of loans, not only housing, the average interest rate at the beginning was 2.61% (5.7% lower than in November 2017) and the average term of 23 years; 64% of the mortgages were at a variable interest rate, and 36% at a fixed rate.

In loans for the purchase of housing, the average interest rate is 2.61%, 3.6% less than in November 2017, and the average term of 24 years.

The Communities with the highest number of mortgages constituted on housing in November were Madrid (5,595), Catalonia (5,363) and Andalusia (5,209), and those with the highest annual variation rates were Canarias (28.6%), Cataluña (25.0%) and Valencia (24.4%).

The communities in which more capital was lent for the constitution of mortgages on housing were Madrid (1,062.5 million euros), Catalonia (802.9 million) and Andalusia (564.1 million).


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