Overview
- The Instituto Nacional de Estadística reports 43,472 mortgages were signed in July, a 3.5% drop year-on-year and a 5.5% fall from June.
- The average mortgage for housing rose to €180,785, up 10.9% year-on-year and 1.4% month-on-month, while the average for all property types was €212,597, up 20% year-on-year.
- The mean interest rate on new mortgages was about 3.01%, with fixed-rate loans at 3.03% and variable at 2.97%; 62.3% of housing loans were fixed and the average term was 26 years; the August Euríbor stood at 2.951%.
- Lenders advanced €12,314.875 million for housing in July, a 0.9% fall from June but a 19% increase versus a year earlier, and regions showed wide swings with the Balearic Islands, Asturias and Galicia up while Cantabria, Aragón and La Rioja fell sharply.
- Fewer contracts alongside larger average amounts may reflect higher home prices, bigger loan sizes or shifts in borrower activity, and the strong fixed-rate share means many borrowers are locking in near-3% rates as the market evolves.