The signing of mortgages on homes falls 12.7% year-on-year in June

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More moderate decline than that of May, although there are already four consecutive months of decreases

The number of mortgages constituted on homes registered in the property registers stood at 26,748 last June, a figure that is 12.7% less than in the same month of 2019, according to the National Institute of Statistics (INE), Remembering that the data comes from public deeds made previously.

With the year-on-year decline experienced in June, much more moderate than that of May, the home mortgage firm has seen four consecutive months of negative year-on-year rates after the 14.6% decline experienced in March, when the state of alarm was declared for the health crisis, and the 18.4% falls in April and the 27.6% registered in May.

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According to the data released by the INE, the average amount of home mortgages rose 7.5% compared to June 2019, to 131,670 euros, while the capital borrowed fell 6.1% in the interannual rate, up to 3,521.9 million euros.

In monthly terms (June over May), the number of home mortgages rose 4.7%, its biggest rise in a June in at least five years. Regarding the capital loaned in mortgages on homes, the monthly rate for 2020 is 8.5%, also the highest in the period.

Results by autonomous communities

The Communities with the highest number of mortgages constituted on homes in June were Comunidad de Madrid (5,101), Andalucía (4,489) and Cataluña (4,142).

The communities in which the most capital is lent for the constitution of mortgages on homes are Comunidad de Madrid (1,011.0 million euros), Cataluña (664.2 million) and Andalucía (453.1 million).

The Autonomous Communities with the highest annual variation rates in borrowed capital were País Vasco (50.2%), Extremadura (18.2%) and Comunidad de Madrid (17.2%). On the contrary, the greatest decreases were recorded in Comunidad Valenciana (-35.6%), Comunidad Foral de Navarra (-29.9%) and Andalucía (-29.5%).

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The Autonomous Communities with the highest annual variation rates in the number of home mortgages were the Basque Country (66.3% 1), Extremadura (11.3%) and Cantabria (8.3%).

On the other hand, Comunidad Foral de Navarra (-36.1%), Comunidad Valenciana (-32.8%) and Aragon (-32.5%) presented the greatest decreases.

Almost balance between fixed and variable interest mortgages

For home mortgages, the average interest rate is 2.49% and the average term is 24 years. 50.4% of home mortgages are at a variable rate and 49.6% at a fixed rate.

The average interest rate at the beginning is 2.14% for variable rate home mortgages and 2.88% for fixed rate mortgages.


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