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Applications for Mortgages Soar 57.7% Y-o-Y

According to the INE, 42,547 mortgages, totalling 8.137 billion euros, were issued.

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The issuance of mortgages grew by 57.7% in September, compared to the same month the previous year. According to the INE, a total of 42,547 loans linked to real estate were granted.

The average loan was 143,831 euros, an increase of 7%. The total amount of all these mortgages reached 8.137 billion euros. Housing accounted for 73.5% of all applications (42,547 loans), with an aggregate of 6.1196 billion euros.

The average interest rate was 2.5%, with a duration of 24 years. Applicants largely chose fixed-rate mortgages (62.4%), compared to 37.6% who chose variable interest rates. Currently, variable-rate mortgages have an average interest rate of 2.15%, while the rate for fixed mortgages stands at 2.77%.

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