Fewer mortgages are being signed. In December 2023, 24,927 were signed, when at the beginning of the year 36,939 were being signed, as documented by the latest data from the INE. Spanish banks continue to anticipate the decisions of the European Union - official interest rates would fall towards June 2024 - and already offer very competitive mortgages to attract the best profiles.
We asked the Housfy Hipotecas brokers what is the best interest rate that they have processed this April 2024 for fixed and mixed mortgages. And the profile of the person who achieved it!
The fixed mortgage is more expensive than before, but it is still the most stable option. The latest data from the INE show that the average interest rate on fixed mortgages was 3.64% TIN in January 2024, but the most solvent profiles are achieving rates that are already beginning to approach 2%.
Specifically, Housfy Hipotecas has processed a fixed mortgage for 2.40% TIN (3.744% APR) for 30 years, the lowest interest rate (already subsidized) in April 2024. Below, we show a representative example.
Those who are taking out mixed mortgages are confident that interest rates will fall. And the strategy is this: sign at a lower fixed rate for the first few years, and then move to a variable tranche.
The best mixed mortgage that Housfy Hipotecas has managed has a first fixed five-year tranche at 1.60% TIN and a variable tranche at Euribor 0.55%. The previous month, the best mortgage had a fixed range of 1.75%, which once again demonstrates the aggressiveness of the banks' offers. See an example below.
The most solvent profiles are accessing the most attractive interests.
However, Housfy is helping clients of many financial profiles find mortgages with special conditions.
Each case is different, and you have to see what the banks are willing to offer for each person and at each moment. Contact a Housfy Mortgages broker to consider your options.
