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2h ago

Spain’s Mortgage Rebound Deepens in June as Loans Jump 31.7% and Rates Stay Below 3%

First-half issuance reached the highest level since 2011, underscoring cheaper credit’s pull toward larger, mostly fixed-rate loans.

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Archivo - Edificación de viviendas
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Overview

  • Lenders issued 41,834 home loans in June, up 31.7% year over year, the strongest June since 2022, according to INE.
  • Total capital advanced climbed 52.1% to €7.04 billion as the average mortgage rose 15.5% to €168,363.
  • The average rate ticked up to 2.99% from 2.91% in May, marking a fifth consecutive month below 3% with an average 25-year term.
  • Fixed-rate contracts accounted for 72% of new mortgages, the highest share since August 2022, as 12,977 borrowers changed terms mostly to improve interest conditions.
  • For the first half, banks granted 243,257 mortgages, nearly 25% more than a year earlier, with regional contrasts such as a 39.9% rise in Canarias and broadly flat volumes in Córdoba.