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Mortgage Signings Decreased by 23% in July, but the Average Amount Loaned Increased

In total, 26,014 mortgages were constituted over homes in July, down by 23% in interannual terms. However, the average amount loaned increased by 8.9% to 132,346 euros.

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In total, 26,014 mortgages were constituted over homes in July, according to the property registers, down by 23% compared to the same month in 2019, as reported on Monday by the National Institute of Statistics (INE).

With the year-on-year decline in July, the number of home mortgages signed has now recorded five consecutive months of negative interannual rates. Following the 14.6% decline registered in March, there was an 18.4% decrease in April, a 27.6% fall in May and a 12.7% decrease in June.

Read the full article in Spanish.

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