Link Securities | According to the National Statistics Institute (INE), the number of mortgages taken out on dwellings in August in Spain was 30,676, which represents an increase of 8.8% year-on-year. The average amount of these operations was €145,352, which represents a year-on-year increase of 5.3%. For its part, the average number of mortgages on the total number of properties registered in the land registries (from previously executed public deeds) decreased by 9.4% in August in a year-on-year rate.
The National Statistics Institute (INE) also reports that, for mortgages on dwellings, the average interest rate in August was 3.30% and the average term was 24 years. Some 38.7% of mortgages on dwellings were taken out at a variable rate and 61.3% at a fixed rate. The average initial interest rate was 3.02% for variable rate mortgages on dwellings and 3.51% for fixed rate mortgages.
