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Mortgage Signings Fall by 18.4% in April to Return to 2017 Levels

23,840 mortgages were signed in April 2020, down by 18.4% compared to the same month in 2019 and the lowest April figure since 2017, according to the National Institute of Statistics (INE).

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The knock-on effects of the economic crisis triggered by the global shutdown due to the coronavirus pandemic are continuing. In total, 23,840 mortgages were constituted over homes during April 2020, down by 18.4% compared to April 2019; the average amount loaned also fell, to 125,338 euros, which represented a decrease of 1.2%.

In monthly terms (April vs March), the number of residential mortgages decreased by 9.6%, whilst the capital loaned for this type of mortgage also decreased in monthly terms, by 11.4%, as reported by the National Institute of Statistics (INE) on Friday. This is the largest monthly April decrease since 2017.

Read the full article in Spanish.

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