The firm of mortgages on homes consolidates its recovery when chaining three consecutive months of uploads that have set up the number of credits to buy house at levels prior to the pandemic. In May, a total of 35,225 new loans were signed, which represents an increase of 37.4% at an annual rate, above even 32.1% advanced in April.
At the monthly level, the increase was 10.4%, according to the data published this Friday by the National Institute of Statistics (INE) that also show that the average amount of said mortgages increased by 5.4%, until at 133,611 euros .
60.1% of housing mortgages were constituted at a variable type and 39.9% at a fixed rate. The average interest rate at the beginning is 2.07% for mortgages on variable homes and 2.80% for fixed types.
"The mortgage market shows signs of the strength of its recovery since during the month of May it has been achieved the same number of operations that were closed in the same month of 2019. In addition, users are benefiting from interest rates historically Low due to competition between entities, which is causing in turn that the difference between fixed and variable rates is on many occasions minimum and encourage more and more Spanish to opt for fixed rates, "Valora Francisco Iñaroya, spokesman for the real estate portal Idealistic.
The number of mortgages with changes under its conditions, which reached a total of 26,825, 461.4% more than in May 2020, although the figure last year was determined by paralysis during the first confinement of the pandemic.
Attending to the exchange class under conditions, 22,381 novation (or modifications produced with the same financial institution) were produced, with an annual increase of 538.4%; The number of entity changing operations (subrogations to the creditor) rose 188.1%, and that of mortgages in which the owner of the well-mortgedly changes (subrogations to the debtor), 663.4%.
By communities, the regions with the highest number of mortgages constituted on housing in May were Andalusia (6,746), Catalonia (6,177) and Madrid (5,625), while those in which more capital is provided for the Mortgage Constitution are Madrid (1,102 Millions of euros), Catalonia (994.7 million) and Andalusia (773.1 million).
Date Of Update: 25 July 2021, 06:07
