Number of mortgages established on housing decreased by 22.3% in October According to data announced this Thursday by the National Institute of Statistics (INE), a total of 31,921 loans were reached compared to the same month in 2022, and the average interest rate continued to increase, reaching 3.32%, the highest figure since December 2015.
With the annual decline in October, the home mortgage company has had negative interest rates for nine straight months. October was less pronounced than September (-29.6%).
Average mortgage amount created on houses fell 5.3% annually Borrowed capital, which reached 140 thousand 564 euros in the tenth month of the year, decreased by 26.4 percent and reached almost 4 billion 487 million euros.
Following the interest rate increase policy implemented by the European Central Bank (ECB) to control inflation and the development of Euribor, the average interest rate for all housing loans was 3.70% in October, its highest value since 2014. The average maturity is 23 years.
As for housing, the average interest rate reached the highest value since December 2015 with 3.32%. average maturity of 24 years. Compared to the previous year, the average mortgage loan interest rate increased by 1.18 points. This is the seventh month in a row that the interest rate has exceeded 3%.
According to the autonomous community, those who registered the most home mortgages in October were: Andalusia (6,630), Catalonia (5,817) and Madrid (5,061).
Likewise, the regions where the most capital was lent to create housing mortgages were as follows: Madrid (1,051.4 million euros), Catalonia (953.4 million) and Andalusia (849.9 million).