Overview

• INE reports 41,834 home mortgages in June, up 31.7% year over year, marking a 12th straight annual increase as momentum eased from May’s 54% jump.
• The average loan climbed 15.5% to €168,363, with €7.043 billion in capital extended during the month.
• Borrowing costs averaged 2.99% in June, remaining under 3% for the fifth month, and fixed-rate contracts reached 72% of new originations.
• Mortgage activity in the first half of 2025 was the highest since 2011, roughly 25% above the same period a year earlier.
• Regional trends diverged: Córdoba was essentially flat year on year with 595 loans, the Canary Islands rose 39.9%, Aragón led national gains, and Navarra edged lower.