Signing new mortgages for the purchase of a home accelerated last November with a 32.2% increase in year-on-year rate, after registering 25,413 contracts
According to data published by the National Statistical Institute (INE), at an inter-monthly rate, ie, in October, the increase in the number of new mortgages to buy a home was 12.5%.
➡Brand New Houses Built in middle of the villages of MATARO & SANT ANDREU DE LLAVANERES
The value of these mortgages registered in the property registers stood at almost 2,790 million euros, representing a year-on-year increase of 34.5%, and a monthly increase of 12.3%. The average amount of these mortgages stood at 109,785 euros, 1.8% more than in November 2015, but 0.2% less than the previous month.
The data published by INE on Friday also indicate that housing mortgages accounted for 64.1% of the total loan capital in November. In addition, 68.2% of mortgages signed in November used a variable interest rate, as opposed to 31.8% fixed rate.
The average interest rate in November was 3.22%
The Euribor remains the most widely used benchmark in the creation of mortgages at variable interest rates, in particular 93.5% of the new contracts. The average interest rate, at the beginning, for home mortgages was 3.22% in November, which is 1.1% less than a year ago.
The INE has also explained that the number of housing mortgages that changed its conditions decreased by 13.3%.
Andalusia, Madrid and Catalonia were the most mortgages recorded in November.