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Mortgage Signings Fell by 27.6% in May, but the Average Amount Loaned Increased

In total, 25,538 residential mortgages were signed in May, down by 27.6% compared to 2019. However, the average amount loaned rose by 3.2% to 127,145 euros.

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The number of mortgages constituted over homes decreased by 27.6% in May to 25,538, compared to the same month in 2019. However, the average amount rose by 3.2% to 127,145 euros, according to data published on Friday by the National Institute of Statistics (INE).

With the year-on-year decline in May, the signing of home mortgages firm recorded three consecutive months of decreases after a 14.6% reduction in March, when the State of Emergency was declared due to the health crisis, and a 18.4% fall in April. The decline in May represents the largest drop since September 2019.

Read the full article in Spanish.

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