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Mortgages Soar 31.5% In the Year to March, Ending 5 Months of Declines

According to the National Statistics Institute (INE), the monthly rise in loans and capital loaned is the highest in five years.

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The number of new residential mortgages rose by 35.1% in March compared to the same month in 2020, to 36,886 loans, according to data released on Thursday by the National Statistics Institute (INE).

The increase puts an end to five consecutive months of year-on-year declines in the index. However, the INE warned that the comparison is with March 2020, the month in which the state of alarm was declared, and activity slowed down due to the pandemic.

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