The mortgage firm grew strongly just before the end of the negative Euribor era

The home mortgage firm kept up the pace in March, the last month with the Euribor in negative, with growth of 18% year-on-year and 43,378 loans closed, according to data presented this Friday by the National Institute of Statistics (INE).

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NewsEditor
27 May 2022 Friday 01:40
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The mortgage firm grew strongly just before the end of the negative Euribor era

The home mortgage firm kept up the pace in March, the last month with the Euribor in negative, with growth of 18% year-on-year and 43,378 loans closed, according to data presented this Friday by the National Institute of Statistics (INE). As in February, it continues at the highest levels since the beginning of 2011 and is the highest in a month of March since 2010. Compared to the previous month, they grew by 19%.

The average amount that is requested also registers a notable increase, of 6.5%, up to 145,715 euros, a maximum for the year. When choosing modality, 72.7% of mortgages are made at a fixed rate (at an average of 2.68%), for 27.3% at a variable rate (with an average of 2.15%) . The rates do not present great variations at the moment, in a context in which entities are already giving prevalence to variable-rate mortgages, which are cheaper, over fixed ones, which are becoming more expensive, since they entail higher returns.

In any case, in 12,888 homes the conditions are changed (novations and subrogations), 16% more than the figure for last month.

By autonomous communities, the communities with the highest number of home mortgages in March were Andalucía (8,966), Catalunya (7,545) and Comunidad de Madrid (7,308). The greatest growth is seen in the Balearic Islands (95% to 1,070 homes), La Rioja (76%)

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